St. Maarten Private Eye

The sub prime crisis is hurting the SXM market as well, but it is not the same as in the US.
The wealthy are not losing money on this. It is the latino's, blacks and poor whites that are facing en masse foreclosures.
It is true that SXM is a buyer's market right now.
At Caravanserai you can get discounts of up to 50% right now,
at Cupecoy Yacht Club up to 20%

that is sheer panic,

the problems all these developers are facing is financing:
two fold : 1 mortgage financing and 2. Resort financing both are not in place, the 'local' developers lack the skills, the momentum, the knowledge or proper credentials (no criminal record) to obtain these financing packages.
You cannot have a Peyton Cromwell or a Johnny Erato b sitting at a table with major US or European financiers.
The Indigo Bay becoming part of Hilton story is bogus, with no financing there is no resort, that is it. All of these developers based their business plan on buyers paying for the construction
So now it is a waiting game
who will collapse first?