Beware of Condo Complexes with Many Units Rented Out

Back in the mid-1960s, when condominiums were born, condos were meant to be an affordable alternative to traditional homes. Many renters aspired for better living arrangements and bought a condo.

Over time, particularly from 2000 onward, the construction and sale of condos increased exponentially, fueled by low-interest rates. The industry, composed of too many condo units, caused two major economic crashes in recent history, one in 1989/90, which affected the U.S. and Canada, and the other in 2006/08, which affected mainly the U.S.

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