Condo Crash Is Just Beginning

Glut of new units and failing contracts yet to peak

By Sam Biddle, Newser Staff

Posted Aug 25, 2007 11:40 AM CDT

(Newser) – Mortgage lenders are about to be hit with another wave of foreclosures and bankruptcies, the Journal reports, as the crisis kicks in in condo market. Because buildings take years to complete, even after buyers have signed contracts, the effect of declining property values and tight... Read full story »

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Condo Crash Is Just Beginning

Glut of new units and failing contracts yet to peak

real estate • mortgage • condominium • mortgage lender • foreclosures

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More Newser Stories

Facing Foreclosure? BofA to Let You Rent Your Home

New 'mortgage to lease' program kicks off in test markets

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Many struggling homeowners not covered in deal

Dozens of States Plan Foreclosure Probe

Joint investigation may force lenders to rewrite large numbers of loans

Home Repos Hit Recession High

US on track for 1M foreclosures this year

BofA, Wells Fargo Rank Worst for Loan Modifications

Treasury report rates banks' performance

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