Quote:
Originally Posted by crewer
I was thinking the same thing when I read about this. It makes little sense to be eliminating office space for more condos. That won't last long, though.
So, any thoughts on the deterioration of the subprime mortgage sector and the domino effect resulting from it? Think it will have an impact on the demand for downtown condos?
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I agree, regarding the elimination of office space. I understand this has become an issue and concern for the 'model' city of Vancouver, BC. So much residential has been built (or converted) in their downtown core, that there is now a significant imbalance and shortage of office space. You definitely want to maintain a good mix of land uses for downtown Austin to function optimally.
As for the developing subprime mortgage sector crisis (and growing loan defaults), it will almost certainly have some (delayed) effect on our market. I guess its just a matter of time. Hopefully our demand will buck this trend.
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