Globe St.Com: Co-ops Can Ease the Condo Crisis
This is an intriguing article that suggests a financially viable way to convert failed/foreclosed condominium projects into cooperatives. At its most conservative it allows the lenders to be made whole. At best, there is some profit, which is better than a warehoused white elephant!
I am curious to see what kind of reaction lenders and investors have. Well-managed coops do work and are a lot more affordable for people to purchase. Not a bad concept in this market environment! Read the article by clicking below:
