The glut of condos in downtown is one of the reasons I got out of the landlording business.
When real estate doesn’t sell it becomes rentals.
There will be many thousands of condos downtown that will be rentals in coming years.
These rentals will depress the local rental market (although maybe not the market for single-family houses on their own lots).
Great for renters – bad for landlords.
To all you landlords who bought rental property in the last two years: Get out while the gettin’s good (OK, so you missed the chance to get out while the gettin’s good but you still have a change to get out – suck it up and take the loss now – it’s only going to get worse).
