The Trouble with Condos, WSJ

What can you do if you are stuck in condominium you can’t sell? In resort and vacation destinations, some owners may be able to wring more income out of a property with short-term rentals to vacationers than from a long-term tenant, if condo association rules permit. Some popular areas for vacation condo rentals include Orlando, Fla.; Cape Cod, Mass. and Los Angeles according to HomeAway.com, a website that links property owners and managers with travelers

In some gentrifying neighborhoods of Boston, for instance, where condo conversions of the city’s storied triple-decker row houses were rampant in the last decade, many owners now find they can’t sell their units, partly because of tougher lending requirements by government-sponsored mortgage backers including the Federal Housing Administration, some real-estate experts say.The new rules, enacted recently to help forestall rising foreclosures, mean many condo projects no longer qualify for financing by some GSE-backed mortgages because they require more information about the financial soundness of the entire condo project than in the past.
By Michal Czerwonka, Oct 29, 2010 WSJ

Link to article