Have you heard about the super-secret Miami condo blacklist? Let's help the f*cked lenders compile a condo blacklist for EVERY city

So there are tons of condo projects in Miami where would-be-buyers have no shot at getting a loan - since the lenders have blacklisted the entire project.

Wow.

But hey, would you lend money to someone who wanted to buy a $500,000 1-bedroom condo in Miami right now? HELL NO! Maybe $50,000, but that's about it.

This one's too funny. Too bad it's a bit too late though. Hell, we knew these Towers of Fraud were doomed for years. Nice to see the f*cked lenders finally get the news.

I'll throw a few projects out for Phoenix, where if you buy today you'll lose 50% or more of your "investment" before all is said and done, in case Countrywide and friends are reading. Feel free to add your city here:

1) The Vale
2) The Duke
3) Elevation Chandler
4) Orpheum Lofts
5) Artisan Lofts
6) Third Avenue Lofts
7) Orpheum Lofts
8) Scottsdale Waterfront
9) Optima Biltmore
10) Optima Camelview
11) Valley Ho
12) X10 Wine Lofts
13) Residences on Main
14) Northshore
15) Main Street Plaza
16) Aw, screw it, I could go on and on, but save time and blacklist the entire state of Arizona

Welcome to the Third Avenue Lofts Lock Box Rail of Desperation in Failed Flipper Central Scottsdale Arizona

Thanks Chris at mortgage-lender-reviews.com for sending in this great lockbox from hell picture.

I KNEW I had to start HousingPANIC after seeing tiny little apartments advertised at $500,000 to $3 million. When I mean tiny, I mean as in 600 square foot studio apartments for a half mil. Seriously.

Check out this 834 square foot 1-bedroom for $719,000. $862 a square foot. Or if you financed today (jumbo 30 at 7%) it'd be $4800 a month, plus $1000 a month condo fee (gag gag) and taxes of $1000 a month, we're at $6800 a month for a FRICKING ONE BEDROOM APARTMENT THAT'LL BE LUCKY TO RENT OUT FOR $1500 A MONTH!

6800 - 1500 = 5,300 loss per month. Or a 78% fall to get back to reality.

Today 25 of the 88 units are for sale, you just know it's a building full of f*cked flippers and failed mortgage brokers, and the development now reeks of desperation and despair. Watch them race each other to the bottom now - last one out is a rotten egg! Anyone want to bet most of these units go to foreclosure?

Seriously, these hilariously overpriced bubblerific units will see drops of 50% to 70% when all is said and done. Just do the math. It's the P/E stupid. It'll always be the P/E stupid.

Man, did people lose their minds during this housing madness. Some days it's mindblowing.