New condos could become apartments as sales cool

By Noelle Knox, USA TODAY
Updated 7/14/2006 3:24 PM ET
There's relief in sight for some renters as the oven-hot real estate markets cool: A huge number of new condos could be converted to rental properties over the next 18 months.
In Las Vegas, Phoenix, San Diego, Washington, D.C., and much of Florida, an estimated 25% to 40% of condos under development or apartments that were converted into condos