I see lots of rentals being built, but they often get converted to condos eventually. I would guess that is generally preferable from a tax standpoint.Here in the Toronto market which I assume is similar to most U.S. cities, no rental housing is built, only condos, which are much more attractive to developers. The condos are often purchased by investors, who in turn rent them out. Also, many parents provide the down payment for their kids and co-sign. Because the market is considered stable, this is a sound investment. Hopefully Detroit reaches this point in the near future and condo construction can occur.
Last edited by mwilbert; June-18-14 at 02:18 PM.
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