What’s the difference between herpes and a condo? Herpes you can give away. The joke isn’t generally apropos now, the way it was during the “bloodbath” that ended the ’70s condo craze, according to a story in Crain’s Chicago Business, but it’s still causing some nervous laughter. The Crain’s piece includes some fun stories from a who’s who of Chicago real estate about the painful early ’80s when condomania came crashing down. There are some important differences between that market and today’s, but there are enough similarities that a reality check (what goes up sometimes does come down – violently) can’t hurt.
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