Thanks to Fred Pilot for this story of one Florida condo development that went through the great recession and seems to be coming out of it, mainly because property values are rising again. The human misery that is referenced thoughout the story is something to consider, especially when you multiply it by tens of thousands of condo projects where many hard working people lost everything. The real estate industry is desperate to get us all buying again, so I think the pressure is on the real estate press to crank up the boosterism again.
http://www.heraldtribune.com/article/20150404/article/150409874?p=1&tc=pg
1 comment:
Let's just hope this condo "boosterism" doesn't bring another round of condo conversions. When there isn't enough new inventory to meet demand, that's what usually happens--take an old, deteriorated apartment house and sell it to the public as a condo. States and municipalities are either clueless or likely, more interested in bumping up the tax base that comes with higher real estate values.
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