Thinking this is happening, some condominium builders may avoid rentals entirely.
Your report that the Oceano Hotel has surrendered to condominium builders needs some updating, though.
One such borrower is Haseko, a condominium builder that lost 123 billion yen ($995 million) last year as it struggled to write down its debts.
Brown (now the Governor of California) opted to sell the site to a condominium builder to whom he allegedly had ties.
State law requires condominium builders to keep the first 10 percent in escrow accounts maintained by an independent third party.
One of the first that sued is one of the state's largest condominium builders, the K. Hovnanian Company.
The condominium builder agreed to renovate the sales office entrance to make it accessible.
He resumed his career with Dondi Construction, a condominium builder.
"It's just one more good reason for keeping away from New York," said William Zeckendorf Jr., a major condominium builder in the 80's.
In many cities, banks have significantly scaled back loans to condominium builders.