Most casual observers would laugh at the idea of a condominium shortage in downtown Seattle. With all of the new construction taking place, the general public often thinks there will soon be a glut of condos for sale with not enough people to buy. Think again. The majority of that new construction is office space. In addition, several condo projects have been placed on hold due to the difficulty of obtaining financing for such projects.
This article from Puget Sound Business Journal discusses how experts foresee a condo shortage by 2010 that will in turn drive up prices.
Read the full article here.
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