The Real Deal Miami

Foreclosed property could make affordable housing

November 13, 2008 12:12PM

Foreclosed properties and stalled
condo conversion projects could make perfect affordable housing in
South
Florida, real estate analyst Jack McCabe told local officials, builders
and
nonprofit executives attending a panel at the workforce housing meeting
in Fort Lauderdale yesterday. The housing could then be sold or rented,
McCabe said, and would
also reduce the inventory of available homes, which could help the
economy.