HAS BUBBLE BURST ON CONDO INVESTORS? YES, MAYBE
Orlando market showing signs of stress from first-time buyers.
By Noelle C. Haner
Orlando Business Journal
http://msnbc.msn.com/id/9487758/
ORLANDO -- Novice investors in the condo market soon may be in for a rude awakening.
With more than 15,000 apartments currently being converted into condos, more than 5,300 new condo units proposed for downtown and close to 12,000 condo-hotel units in the pipeline, Orlando looks like an investors' paradise on the surface.
But deep down, a large portion of condo investors -- generally first-timers who were banking on making big bucks on their condos -- are having a difficult time renting out their units, several people familiar with the local real estate market have told Orlando Business Journal. …
(Courtesy of Fool website)