Comments
- No Comments Found. Submit Comment
Your Condo, Your Money Pit?
The Supply Of Condos Is Expanding
A rash of construction-defect lawsuits in the 1990s drove some builders out of business and made others leery of this market. Add to that the fact that the highest condo demand is concentrated in cities like Los Angeles, New York and Boston, where buildable land is at a premium, and you have a limited market.
Condo construction is picking up, though. While building condos is still expensive and risky, the hot real-estate market is making it worth more builders' while. Combine that growing supply with cooler demand, and you'll see less appreciation in condo values in the future.