Condos built before 1994 flood the South Florida market, with prices falling due to oversupply. The number of condos for sale has tripled in two years, with longer selling times. Buyers avoid older buildings due to potential assessments. Newer condos like Circ Residences are preferred. Older condos may turn to rentals due to market stress. FAU economist predicts pressure on condo associations to allow rentals, increasing rental supply but displeasing owners.
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