02-06-2017, 10:39 AM
What's interesting is how much of this "carnage" is on non-institutional owner hands. More and more of these buildings aren't owned by a corporation that rents them out, they have become condos that you can hire a corporation to manage. So when the market floods and there aren't renters, as a private owner of these student condos, you still have a financial contract to pay for management services, and still have a mortgage to pay, but no renter to pay for it from.