What's Behind The Condo Explosion?

"As condominium prices reach never-before-seen heights, a debate is brewing over whether a fundamental demographic shift is driving the trend or whether this is simply the latest speculative bubble in a corner of the real-estate market that has seen plenty of them.

... Demographic changes in the middle class can explain some of this. The ideal of the two-parent family with 2.2 children living in a suburban house is being supplanted by an array of arrangements, including single professionals, divorcees, active retirees and single parents. For many of these people, an urban condo is both more luxurious and convenient than a house with a yard."

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