October 08, 2006

They've got "in your dreams sucker" condo pictures in Panama too!

Posted by blogger at 10/08/2006

4 comments:

Anonymous said...

Dumbshits aren't just exclusive to Amerika ya'll!

October 09, 2006 6:17 AM
Anonymous said...

I was stationed in Panama back in the early '90s. I remember it as an absolutely beautiful country full of kind, generous people, but not without its problems. Panamanians seemed to take for granted that their real-estate boom was being financed by Colombian drug money. Local papers reported that bank financing was the exception, not the rule, for major construction projects.

And building safety? Forget it. Those buildings look nice from a distance, but I can tell you that structural design and construction vary wildly from "good enough" to "get me the **** out of here now." Fire protection standards are a joke. I remember that one of the better-known hotels had propane tanks inside every room, and cheap hollow-core interior doors where fire doors should have been used.

Fortunately Panama lies just outside the hurricane belt. But it is in an earthquake zone, and I don't want to think about what will happen when the big one strikes.

October 09, 2006 7:41 AM
Anonymous said...

Reminds me of all those infomercials with Erik Estrada touting land lots in some swamp water part of Florida.

October 13, 2006 1:51 PM
Don Quixote said...

Published in the October issue of Escape Artist, "Panama City: Enter the Dragon!" is a must read for those thinking to relocate to Panama. All the hype is mostly based on the mostly fraudulent statements of developers, real estate brokers and housing flippers. Panama City's murder per capita rate: One murder per 3,300 persons. Panama City rates even worse than Latin America (2006 worst violent crime region in the world!). Besides, the actual average sales price for new condos is higher than the median sales price for existing single-family houses in America!
Excerpt: “Panama’s housing boom is neither healthier nor more viable in the long haul than its doomed American par. Condos’ flippers believing that there is enough charm here to trap ten legions of baby boomers are truly delusional. The odds that 40,000 American families would decide to dwell here are as good as the chances for the US government to retake the Panama Canal at anytime soon. Besides, with so much inventory becoming available, price levels, currently being driven up by speculation, are very vulnerable to plunge hard. Profiteers are well set for one major disappointment.”
Link to the article: http://www.escapeartist.com/efam/96/Panama_dragon.html

November 14, 2007 12:39 AM

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