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Monday, May 22, 2006

From the department of "duh!"

This has nothing to do with politics, but when I read it, it provoked some serious questions about the naïveté of the buyers of these luxurious condos. Apparently, some people are shocked, shocked that the condos they are buying are noisy and smelly; they can hear and smell what their neighbors are doing. It's almost like living in a large building and sharing living space!

Excuse me? What were these people thinking? As the article says, a condo is something you buy, an apartment is something you lease. Other than that, there is no difference. Do people really expect that living in a condo is going to be different?

In any case, I think that the downtown condo market is becoming seriously overbuilt. I wouldn't recommend buying a condo anytime soon unless you want to have some negative equity in a few years.

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