Condos Are Multi-Unit Properties

Floyd Norris has an interesting piece documenting the surge in construction of multi-family units at the same time that construction of single-family homes remains weak. He attributes this to a weakness in the sales market with more people renting rather than owning.

This conclusion does not necessarily follow from the data. Many multi-family units are built as condos (come to DC and you will see what I mean). The price of condos in many markets has soared in recent years. The five cities fo...