Reply to Remember the recent bubble and crash -- it could happen again

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[quote=Anonymous][quote=Anonymous]All of those apartments WERE originally designed to be condos. Cue market crash and many were turned to apartments. Old apartment buildings had to upgrade/renovate to keep up. New developers kept building them because rents kept going up- and they were leasing- so they cleared their proforma. But now what will happen? [/quote]

Exactly.  It's crazy how quickly the pendulum is swinging between condos vs apartments.  There is a building in Alexandria that came online as condos in 2006.  Shortly after the housing crash, they turned apartments.  Then two years ago, with several new apartment projects coming online that were going to have more features and amenities, they swung back to condos and are very close to being sold out.

I have no doubt that many of these high-end apartment buildings will be going condo in the next couple of years.  The rental market is going to start getting saturated for these top dollar units and with a shortage of condo units, makes perfect sense to switch over.  Just be prepared to pay crazy bucks for these as condos.

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