It’s a short article, but it’s just reaffirming my comments about the effect of the over-building of condo units and the condo conversion trend that has been so popular. Good news for the rest of us, though!
Link: REALTOR Magazine – Daily News.
There is "clearly an oversupply" of unsold condo units, NAHB Chief Economist David Seiders says. Vacancy rates for apartment buildings are dropping and rents are increasing, he says.
(see also Condos reverting to apartments, Stronger Market for Apartment Investors, & New Hilton Hotel redevelopment of Miller & Rhoads)
