Word: condo
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...young and don't have a lot of money but smell opportunity in a soft real estate market and want to start building equity ASAP, even if it comes before the wife, kids and golden retriever. "On my own, I might have been able to buy a one-bedroom condo, but that would have been pushing it," says Kovack. Instead, he and Katz live in a 2,300-sq.-ft. (about 215 sq m) three-bedroom row house with stainless-steel appliances and a deck out back. They split the mortgage, the tax break, the cost of upkeep...
Given real estate's penchant for shorthand (think condo, co-op, comps and COFI), we should add a term for friends who buy houses together. Let's call them communal homeowners...
...spots by telling her what terrific schools Obama went to and that he's a lawyer. Then Cohen started working on the commonalities between Obama and Mama Ann. "Barack grew up in Hawaii," Cohen said. "They have lots of beaches." If Cohen really thinks Mama Ann has left her condo to go to the beach in the past 20 years, he clearly hasn't spent any time with old Jews in Florida. Because Jews have been targeted with anti-Obama e-mails, he thought Mama Ann might believe false rumors that Obama is a Muslim. Again, if Cohen thinks Mama...
...haven't hit bottom. The glutted Miami market already has a five-year inventory, but Peter Zalewski of Condo Vultures says 22,000 more condos are still under construction downtown, which will double the supply. "Just wait. We haven't even started to feel what we're going to feel," he says...
...nice? As baby boomers retire, as Hispanic markets expand, as leftist dictators harass wealthy South Americans, some people will always want to come to Florida. In anticipation of the next boom, developer Pérez has set up a $1 billion fund to buy distressed properties, and Zalewski of Condo Vultures has been besieged by foreign investors. "Eventually, Florida is going to grow again," he says...