due to tower after tower of distressed and discounted condos. this is pure capitalism if you don t have all cash you stand no chance, you re going to get crushed. reporter: if you have cash peter says deals are everywhere. and low and behold it s on the market today at $50,000. it will probably trade at 35 to $4,000. reporter: it was originally $172,000. that s what it was purchased for. reporter: he adds that right now in the three counties in south florida, miami dade, broward and palm beach there are 6,000 condos for sale at about $50,000, and remember these were all going for maybe 150 to 200 just two or three years ago. other cities where all of these bulk real estate purchases are available, not only miami but you ve got got atlanta, vegas and san diego. a lot of people making the big purchasers are foreigners, 83%