Would-be condo buyers are spooked by high costs, including rising HOA dues and insurance fees–but the silver lining is bargaining power. The gap between sellers and buyers has shrunk since springtime, though, when there were 81% more sellers.
  • TheAsianDonKnots@lemmy.zip
    16·
    1 year ago

    Where I live they convert old apartments into “condos” (by name only) and try to sell your first apartment out of high school back to you for $350k… but very few people can qualify for a loan, so they sit empty.

    • whiwake@lemmy.cafeEnglish
      7·
      1 year ago

      Oh man, they did this way back in ~2005 in Arizona. At the time, I laughed. But also at the time it was a 50k price tag and I didn’t want to be tied to AZ. I should have bought one then. Now, that’s just a dumb idea.

      But, buying anything right now is dumb. Hold for half price. Yes, it will. Hold for half price.