NAHB - "Multifamily Builders Still Worried About Weakness In Condo Market" (11-21-06)

“Many of these condo communities are large, urban projects or high-rise communities in resort locations, and as such, they take a long time to plan and build compared to a single-family home” said David Seiders, NAHB’s chief economist. “As a result, multifamily developers cannot simply turn off the supply overnight, so it is going to take a little while before we work through the large overhang of inventory in this sector.”