According to this article, the condo market is on its way to popping. Condos are the last to go into a frenzy during a RE bubble. But what got me was this quote from the head RE cheerleader, David Lereah (emphasis mine): "Has the condo market peaked? 'Maybe,' said David Lereah. 'We may be seeing some of the air come out of the condo balloon.' "
So he is on record as claiming there is no housing bubble but given the latest facts the closest he can bring himself to saying "bubble" is "balloon".
1 comment:
Since condos are heavily invested, it will be interesting to see how these time against SFH. Will investors drop them first, followed by homes?
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