AFS Cinema
The Worst-Researched 'Chronicle' Article Ever!
RECEIVED Mon., March 26, 2007
Dear Editor,
Your article on urban pioneers is probably the worst-researched article I've ever read in the Chronicle ["We Were the Urban Pioneers," News, March 23]. You've ranted on and on about the Spring Condo's using their sales brochures that have absolutely no relationship to current market conditions while all along not even knowing where the property is located. Does anyone at your paper even proofread these articles? Do the authors even live in Austin? Do they not know that Third and Bowie is not Fifth Street West?
Have you been following the vicious downturn in real estate values throughout the nation? Oh, I forgot, it can't happen here.
I believe that there is a very good chance that the vast majority of units permitted to begin construction Downtown will not be built during the current economic cycle. Speculators who purchased condo units recently completed Downtown are seeing their investments depreciate on a daily basis.
The Fed has just replaced one liquidity bubble with another. Remember the last one, Austin?
Your article on urban pioneers is probably the worst-researched article I've ever read in the Chronicle ["We Were the Urban Pioneers," News, March 23]. You've ranted on and on about the Spring Condo's using their sales brochures that have absolutely no relationship to current market conditions while all along not even knowing where the property is located. Does anyone at your paper even proofread these articles? Do the authors even live in Austin? Do they not know that Third and Bowie is not Fifth Street West?
Have you been following the vicious downturn in real estate values throughout the nation? Oh, I forgot, it can't happen here.
I believe that there is a very good chance that the vast majority of units permitted to begin construction Downtown will not be built during the current economic cycle. Speculators who purchased condo units recently completed Downtown are seeing their investments depreciate on a daily basis.
The Fed has just replaced one liquidity bubble with another. Remember the last one, Austin?
Gary Liddy
[News Editor Michael King responds: Gary Liddy is correct about the photo: Due to a miscommunication between the reporters and photographer, we used the wrong photo for the Spring property. That error has been corrected online, and we apologize to our readers for the confusion.]
