The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retire Well on Less


Subject:  Re: Condo depreciation Date:  3/23/2008  3:24 PM
Author:  telegraph Number:  1255 of 1698

Condo prices always seem to be the first affected in a housing downturn. One of the problems with condos is that the original people move out, and more and more units turn into rentals - with people living there who really don't care about the building or other tenants. Prices for rentals always seem to drop quickly, too, in a downturn.

Yet, folks like condos in many areas. Often, you can rent one for less than the cost of buying one - the owner eating the difference.

NY prices and east coast prices went up 15% a year for 6 years, out