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dsims

Condos, the wave of the future?

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By following this link you will find an article about recent growth in condo sales here in Missoula. It appears people from all walks of life are getting tired of having to drive from their suburbian homes to the grocery store for eggs and milk! Condos appear to be a solution to this problem for many people. What is emerging is a great problem of equity, because the condos are being sold for just as much as a house & many of the new buildings are just re-modeled apartment buildings. This is a flaw, but I think it will work its way out sooner or later.

http://www.missoulian.com/articles/2007/09.../top/news01.txt

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Whoa. This story appeared in every other city's newspapers in 1999. I wish I could get a condo for under $300k.

I wouldn't say it's a flaw. Remember the adage, "Location, location, location!" People are willing to pay the same or more for an urban condo if it offers them a lifestyle that is very desirable now (no house maintenance, no yard work, shopping and entertainment on your doorstep, the "convenience" the article kept mentioning, etc.). To many people those offerings make an urban condo worth the same or more than a larger detached house on a 1/2 acre lot in exurbia. Value is not a simple calculation of square feet.

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