To rent or to condo, that is the question
CoolTown Studios remarks on the rumored-to-be-slowing condo market. Rising interest rates, rising condo prices, and the surging numbers of new condos on the market mean that more condos are available for fewer buyers. Not a developer's dream. CoolTown sees a compelling reason for developers to consider rental - unless they are offering something special.
The NY Times offers an example of this phenomenon in northern New Jersey. More developers are going rental because "demand for apartments remains high, because there is always a large group of New Jersey residents who are 'renters by choice.' And as interest rates have begun to climb, pricing more people out of the homebuying market, the number of renters inevitably increases."
Posted on Tuesday, August 1, 2006 at 11:39AM
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therevitalist
in Housing
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therevitalist
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