Condo Conversions Return, To Cities And For Investors

A decade ago, developers nationwide were busy snatching up apartment buildings and converting the units to condominiums to cash in on rapidly rising home prices supported by low interest rates and lax mortgage underwriting standards. The strategy still stands as a testament to the fervent homeownership boom, which ended abruptly - and messily - amid the financial crisis, the bursting of the housing price bubble and the collapse of the condo mortgage industry.

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