Mortgage/Condo Blacklists Leaving Some South Florida Unit Owners Trapped In Their Own Buildings?

In Miami, Florida, WFOR-TV Channel 4 reports:

• South Florida often finds itself on many lists; from top places to vacation to top cities for road rage. More recently, however, the area has earned a spot on a new set of lists that could impact the South Florida real estate market for years to come. While banks will be quick to say they're not blacklists, making one could be one of the worst things that could happen to our local economy.

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• Mortgage brokers say these lists, which began about 15 months ago, have exploded in the last few months. Most cite South Florida's condo market as one of declining market value and high investor concentration. [...] With a limited number of interested buyers, South Florida's condo market is now being forced into a cash only market and a catch 22 for sellers. [...] Many market watchers say the real fallout won't just be sinking prices, but condo owners who become trapped in their own buildings.

For more, see South Florida's Secret Blacklists.

Go here for other posts related to the Miami condo market problem.