Sunday, May 18, 2008

HousingFEAR Quote of the Day

"Condos stink their worst in declining economies. The ignorant owners will stop paying their maintenance fees. Then the condo board starts taking out light bulbs from the hallways to save $99 a month on electrical bills.

Condominiums should be treated like hookers. Rent them by the day/week/month but never consider buying one permanently. Let someone else marry them.
Like foreign investors."

-Wild Bill

1 comment:

Anonymous said...

With all due respect to "Wild Bill," a condo is no different than any other real estate purchase in one respect: location and the neighbors matter. If you buy a condo in a crummy development where there are lots of renters and foreclosures, you're gonna have problems -- just like if you buy a house in a crummy neighborhood with lots of renters and foreclosures.

Bottom line: Do a little homework, and you'll be OK.

View My Stats