Condo Conversion Craziness

[Elspode]

There was an article in a not too recent issue of the Kansas City Star about a pair of investors who have been buying up apartment complexes and converting them here in KC.

Now, most of these properties were run down shitholes when purchased, so the upgrades are obvious improvements when they're done. However, they are by and large still in marginal neighborhoods with on-street parking. And no matter how refurbed the buildings are, they're still small apartments in a marginal neighborhood, only now, you can pay more and perhaps sort of own one someday.

Not my cuppa.