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Failed developments into new rentals

Started by notadmin
almost 16 years ago
Posts: 3835
Member since: Jul 2008
Discussion about
regarding the future supply of affordable rentals. this is the 1st formal step i've seen towards making failed condos into cheap rentals, it was announced today. imho this is just the start, but it'll depend on the quantity of failed new developments. renting them makes sense to me. "New York City SONYMA approved a commitment to insure a $37.5 million mortgage on a 144-unit rental apartment building in Brooklyn that was originally built to be sold as condominium units." btw, Bernanke 2nd term vote is happening as we speal. he will pass it easily imho.
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