48 New Condos Overlooking the Lake

[John Mercier]

Originally Posted by FlyingScot

On #2--Waterfront inventory is super low, but there are at least 3 places within walking distance of my house for sale on nice, quiet wooded lots. As John noted above, it's all about the price, but it is really tough for me to see the attraction of this spot for either a vacationer or full timer.

Of course, it was also tough to foresee what would happen to waterfront prices over the past couple of years...

I had no problem seeing it.
It was just a matter of waiting for a large enough generation of Americans to be near retirement. This is not even close to the first condo development in the Weirs area... or even in the area that is being looked at.

The Brickyard was incredible, but a financial disaster. I remember swimming in the indoor pool, dancing in the disco, attempting to ski on the slopes behind it, etc... but it was a financial bust.
I think its problem was that Boomers were moving from active singles to paired parents... and as the generation coming after them, just not enough of us to spend in a comparable manner.

But are we seeing a repeat of the past cycles were heavy development occurs just before the market crashes? I remember them trying to sell the condos at Meredith Bridge for less than half the original asking price and throwing in a boat as a sweetener.