[MIchaelTArchangel]

Boo fugging hoo. It sounds to me as if the condo owners did not do any due diligence before buying their condos and are not shocked to discover they bought a piece of Kommie-La housing. Their failure to have their condos and the buildings they are in inspected for structural defects is the problem. They caused the problem. They own the problem. And now, they are trying to sell the problem to some other idiot.

[GOPJ]

You're right - that's exactly what was happening. It was a 'last fool holding the cards loses' setup. Condo boards kept putting off large repairs for 'the next group of buyers' and this is what happened. Now some of them are stuck having to foot repairs that should have been spread out over the last 15 years.

[EVO X]

Boo fugging hoo. It sounds to me as if the condo owners did not do any due diligence before buying their condos and are not shocked to discover they bought a piece of Kommie-La housing.

I followed the collapse after it happened. Lots of blame to go around. What was never mentioned is the lack of due diligence by lenders. The condo complex was a beach front condo with 100+ units. Condos were in the million dollar range and higher with a likely regular turnover rate. It was another miss in a long string of failures leading up to the collapse..