Housing Slowdown Good for Renters

The current trend in the 2008 condo market unveils the fact that majority of prospective buyers would be remaining renters at least for the time being. This would translate into higher retention of renters mainly because people are looking for the stability in their home with a feel of ownership in their rental. With this trend, there will most likely be lesser development of multi-family structure and more attention to providing rental units for these tenants.

It is seen that new development of apartment units will be the main competition of condos in the real estate market since most of the amenities previously enjoyed exclusively by condo tenants are now seen as basic provisions in apartment complexes.