The conversion of rental apartment buildings into individually-owned condominiums has emerged as a common real estate practice in recent years. Since 1970, over one-half million apartments have been converted to condominiums. The pace of conversion activity accelerated throughout the 1970's and remains strong despite high interest rates.Conversion, moreover, is spreading from the nation's largest metropolitan areas into smaller cities.
"The Case for Governmental Action to Retard Condominium Conversion Activity,"
Yale Law & Policy Review: Vol. 1
, Article 5.
Available at: http://digitalcommons.law.yale.edu/ylpr/vol1/iss1/5