Condoflip.com, established to allow for the listing and eventual fire sale of condos, is no more. The website says this succinctly:
How Did The Market Change in 2004 and Beyond? We saw a dramatic shift in how preconstruction condos were bought and sold. The condo boom was driven by overly-ambitious speculators, [editor: ya think?] many of whom had been successful in flipping condos in the past. As condo inventories grew and prices rose many speculators realized that further purchasing was increasingly risky. So, buyers just stopped buying. What Kinds of Results Did Condo Flip See? We saw thousands of sellers, and very few buyers. It didn't make sense for us to maintain a marketplace where there were few buyers.
Personally, I don't know anyone who went there for any reason other than schadenfreude, so it makes sense.
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