In 2005 I purchased a guarantee price contract for a real estate luxury apartment. This apartment is due to be finished in 2012 (7 years after). The price estimated price of a similar apartment in the same area is the same or less than the guarantee priced of the apartment not yet constructed. This due to the lower real estate value and other economic phenomenons.
Should I keep the price guarantee for another 2 years, or should I give the contract up. I only loose 50 dollars of the contract if I let it go. Since it was done so many years ago, they don't penalize people for breaking the contract.
Note 1: MBHunter, you are right. I wrote the statement incorrectly. I fixed it now. The main idea is that a similar apartment is at the same price that I fixed with this contract 5 years ago an apartment that is still not constructed.