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Condos Left Out In the Cold, Badly Need a Hug

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Maybe, just maybe, the housing market will hit bottom sometime this year or next for single-family homes, but condos have no such luck, says a story in USA Today. Condos face all the same challenges that single homes face: unemployment, credit crunch, etc etc., all jargon for "no one has money!" But condos also take a longer time to finish, so even as the economy has continued its downward spiral, large, multi-unit projects have continued to come online, flooding the market with empty units at a rather unfortuitous time. Rock bottom for condos, says one analyst, may not hit until the year 2011. In the meantime, potential buyers are sittin' pretty, either taking a leisurely stroll down condo lane or snapping them up at much-reduced prices.
· Condo market fights to recover as prices remain down [USA Today]
· Civic Center's New Kid on the Block Hits the Market [Curbed SF]
· A Beep on the Condo EKG