Here are some things worth considering. Since last July, the Business and Real Estate Weekly has reported almost 9,000 apartment units that have been bought for the purpose of converting them to condos. Unlike homebuilders who build homes only after they are put under contract and who despise spec homes sitting on their tracts, condo conversions are all immediate specs. That means that in the last 7 months, there basically have been almost 9,000 specs purchased for resale. Read Article
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25 January 2006
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