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  1. Quality and value are proportional to owner-occupancy, 2:34. So internal downard price pressures will combine with those of the market at large. The rental bubble will also deflate as more and more of these failed projects are converted to the rental inventory.

  2. So what happens when some of these new condos (such as one discussed the other day) are 40% sold and the sponsor puts the other 100 units on the rental market. It won’t be just one building either. The new construction (Oro, Forte, Smith) haven’t even strated closings.