Page 5 - New England Condominium October 2021

NEWENGLANDCONDO.COM NEW ENGLAND CONDOMINIUM -OCTOBER 2021 5 O ........ The last few years have been a rollercoaster ride for the condominium markets nation- wide. After reaching a high in 2016, many factors collided to bring pressure on the market with varying effects. These factors included the change in SALT deductions for federal income taxes, the overbuilding and resulting oversupply in the luxury market, the fractious 2020 election, and the COVID pandemic. Where are the markets headed now? T B P ...... One truism of home ownership is that there is always something that needs to be fixed or upgraded. That’s true in condo and co-op communities as well, both large and small. There’s always a roof to replace or a boiler to upgrade, or a lobby to refurbish. The challenge is finding the right contractors to get these jobs done efficiently and effectively at a cost that the building or HOA can handle. COVID-R L I B M ........ Even as businesses, schools, and even entire economies shut down at the start of the coro- navirus pandemic last year, the task of running residential buildings and communities never ceased. In fact, it could even be argued that as people were more or less confined to their homes for weeks and months, the decisions made by condo, co-op, and HOA boards and managers had even more impact on their communities than in the Before Times. T 7.56 4.326 3.878 4.7026 5.1383.906 5.148 2.16 5.4 4.698 2.25 5.409 2.97 5.238 5.238 5.166 5.409 3.906 7.884 3.069 3.242.385 1.944 1.944 1.926 16.929 19.2202 5.405 3.5595 5.4705 5.754 2.415 6.927 8.8837 2.9965 5.1466 6.213 3.27754.8925 4.7595 4.5885 2.185 3.8475 4.75 4.9685 2.926 4.68 - G ..... I P . . . . . . M ...... See us at Booth 206