Tuesday, November 29, 2005

A buyers market? Say it ain't so.

Will you be able to buy a luxury condo cheap? There sure are a lot of condos coming on-line soon, and a good amount of them were bought by investors. Of course they can always rent them out.

"Buss said analysts are 'a little more nervous' about the condo and co-op market. In some regions, investors have bet heavily on condos. The fear is that they will dump their holdings or back out of purchases, flooding some areas with inventory. The Washington area 'has seen your fair share of investor activity in condos,' said Buss, 'but not as much as in South Florida or Phoenix or Vegas.'" Sales of Existing Homes Slow More Than Expected

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