What’s Missing From the Housing Recovery? New Condos

With the last financial crisis now firmly in the rearview mirror, builders are swinging their hammers again and putting up sorely needed new homes. But something’s missing amid all the scaffolding: condos. Their absence is already being felt by first-time and cash-strapped buyers contending with record-high home prices thanks to the lack of properties on the market. Condos, which are often more affordable than traditional single-family houses with backyards, may seem like a solution.

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Source: realtor.com