Just anecdotal, but I've heard that urban condos in general are not selling well. A friend of a friend has a condo in downtown Chicago and apparently there are tons of units in her building that are up for sale and just sitting there.
Maybe people are moving out of the city and to the burbs?
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Posts: 38222 | Location: Somewhere in the middle | Registered: 19 January 2010
The question to ask is are Trump property prices down significantly more than other comparable properties. I understand what the writer wishes to infer and he may be right but he doesn't really back that up.
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Originally posted by wtg: I love the exterior architecture and landscaping; I'm a little less excited about the interior, though parts are pretty nice.
Beautiful house!
Seems funny to see the kitchen tucked in the back like that. I wonder if the buyer will move it?
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An Associated Press review of more than 4,000 transactions over the past 15 years in 11 Trump-branded buildings in Chicago, Honolulu, Las Vegas and New York found prices for some condos and hotel rooms available for purchase have dropped by one-third or more.
That’s a plunge that outpaces drops in many similar buildings
It would be fairly easy to run a little regression that differenced the changes in Trump property prices over some time frame from price changes in comparable properties in the same areas. I suspect something like this may have been done, leading to that bolded claim.
Posts: 12759 | Location: Williamsburg, VA | Registered: 19 July 2005
Apparently luxury condos aren’t selling in PDX either. They’re not Trump branded, but they’re downtown/Pearl, more likely to have unrest in the street.
Condos have always been an odd market. It seems that any time there is a glitch in the market people want to get out of them and in to single family places. They're always the first thing to drop in a downturn and the last to come back.
-------------------------------- Life is short. Play with your dog.
