Wednesday, July 2, 2008

Welcome To The Housing Slump Salem

From the DJC:

A recently renovated condominium complex in Salem has been converted back to apartments after disappointing sales.
The Spanish-style units at 2401 N.E.Wayside Terrace were being marketed as condos after the rundown 39-unit property was renovated. Strict loan approval guidelines enforced after the subprime loan crisis meant that potential buyers had trouble getting approved for loans to buy the condos.