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More than 2,200 new apartments are going to hit the downtown market in 2010, right at a time when occupancy is down, rental rates are down, and condo rentals are way, way up. Let’s not forget about those 900 new condos nearing completion, either. It should be an interesting year.
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It’s also going to be the year of the price cut for stagnant new construction inventory.
From what I’m hearing, buyers can look forward to some dramatic price cutting announcements early next year.
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