Apartment to Condo conversions over in Phoenix. Now some converting back to apartments.

[Neshanic]

Lawsuits being filed now.

I have seen dramatic drops in prices for dumps that I would not rent, let alone buy.

[wakeme2008]

1. I moved out of my 40+ yo apartment after being told they were

going condo. 4 months later they are back being apartments. Nobody wanted to buy into a 40+ yo building in Tampa.

:shrug:

But now they want a lot more rent...

[noahmijo]

2. It's an ownership society!

Which means they own your ass.

Greetings from your neighbors down south :hi:

[Tansy_Gold]

3. Can you provide some details?

I'm in the general Phoenix area and have been keeping half-an-eye on the real estate market for about six years. This is an aspect I had not looked at.

My parents bought a condo in a converted apartment complex in suburban Chicago two years ago and the market was hot hot hot then; they almost didn't get in because they couldn't sell their house quickly enough. Now they want to sell but can't move the condo and half the units in their complex are now owned by "investors" who are renting them out.

Tansy Gold