Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Stock Farmer who wrote (68916)	4/29/2008 3:17:41 PM
From: Elroy Jetson	Read Replies (1) of 74559

I might add, the new trend in Los Angeles are "hotels". The first one I saw was a condo project downtown built by Standard Pacific. After selling only 21 of the units, SP returned the deposits to the buyers "because of a title problem". It turned out that they decided to rent these buildings as apartments. But wait there's more! After rentals went poorly, they applied to the city for a Hotel license. We're seeing a lot of the same "condo-to apartment-to hotel" projects in the Palm Springs area. I've forgotten, what comes after hotel? .

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