For today's best real estate diatribe, we direct you to economics blogger Reggie Middleton: "Banks are now demanding 20% and 25% down, AND that at least 70% of the condo development be sold before they will finance a condo buyer. But this brings us to that proverbial chicken and egg question - which comes first? How do you get 70% fill if banks won't finance your buyers until you're 70% full?" There's much, much more, including the visual accompaniment: photos of under-construction buildings spotted on a drive from Chelsea to Park Slope. What a fun flip book! [Boom Bust Blog]
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