Zelkowitz Quoted in the Daily Business Review Regarding South Florida Residential Construction

MIAMI (September 1, 2009) -- GrayRobinson attorney Steven Zelkowitz was recently quotes in the Daily Business Review citing the looming problems for residential construction in South Florida.

"There is still a choke hold on construction lending," he said. "I have not seen, in my practice, any new construction loans for residential construction. Loans are out of the question for condos. It is still going to be a long, hard road ahead before we see the numbers pick up significantly."

Zelkowitz explains that single-family home construction is steady while multi-family units struggle in the current economy.

"The development of multi-family housing follows the general economy," Zelkowitz said. "When we have a surge in job creation and population, residential construction follows suit. What we are hopefully going to see is the general economy comes back and the [residential] inventory already out there is absorbed."

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