Word: mascaro
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Dates: during 1980-1989
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...under way to replace this lost housing. Building costs are stratospheric-often $40,000 and up per two-bedroom unit-and speculators can make more money buying existing properties, raising the rents and selling out a few years later. Construction financing is expensive and difficult to get. Says Robert Mascaro, an Atlanta property manager: "We don't just pick up the phone like we did five or six years ago and say, 'I want $2 million...