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South Florida condo prices will drop 30 percent more, developer Don Peebles says

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From the South Florida Web site: Don Peebles doesn’t declare victory and stay home. The chief executive of the Peebles Corp., headquartered in Miami, wants to expand his empire around the country. Peebles, a former Washington, D.C., developer who in February made headlines for his bruising legal fight to regain control of the Royal Palm Hotel, also keeps an eye on what’s now his home base. He said he’s now looking for investment opportunities amid the rubble of South Florida’s real estate market, and plans to participate in government bailout investment programs as well. The Real Deal caught up with him when he was on the go between meetings recently to discuss his views about the South Florida market and his plans there.