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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: David Jones who wrote (9947)	3/24/2003 12:55:59 AM
From: Elroy Jetson	Read Replies (3) \| Respond to of 306849

there's quite a number of condo's going up or up. Really surprises me with all the legal problems with them. Building Condos always seems to make more sense, that is until you get stuck with a load of Condos whose cost to build is now above the selling price as the market peaks. Generally, tearing down single family Homes to build Condos in urban areas is easy to get approval for. Rental to Condo conversions are usually difficult to impossible. There's more construction liability with Condos but generally builders and developers are blind to risk. Just saw a major developer lose everything two days ago. There will be a lot more of those to come. As seems to be common now, a REIT gets to share the pain. We're at the end of the cycle.