You heard it here first - ".condo" will be the new terminology for this bust

Saw this article today from Florida, with real estate appraiser Joel Asmar getting the award for best bubble quote of the year... And this condo phenomena isn't just Florida - as I look out my window at new $900,000 2-bedroom apartments (aka .condos) going up across the way here in Arizona... Day traded internet stocks of 1999 are now day-traded condos in Miami, Phoenix, San Diego, Vegas and more...

Real estate appraiser Joel Asmar describes it with a cautionary pun: "dot condo."He's alluding to the "dot com" bust of Internet startups that rocked the stock market several years ago. The condominium market in the Panhandle, he believes, might be heading for a similar fate.

Some say too many speculators and too many units at sky-high prices are coming on line as a post-Ivan wave of new waterfront construction sweeps over the Gulf Coast.

This is a very weird, weird market," said Key Concepts broker Brenda Beumer, who specializes in properties on Perdido Key. "It just stopped dead after Hurricane Dennis. From Gulf Shores to Destin, across the Panhandle, prices are coming down"