Time for self-preservation

From the June issue: While deal volume is nowhere near where it was last year at this time,
residential brokers are finally starting to report an increase in
bargain-hunting buyers and a slight uptick in rental deals. But while the prognosis for resales seems to be improving, things
on the new development front are still bleak, with no signs of
improvement on the horizon. In response to the unsavory market conditions, developers are drastically changing their strategies to survive the downturn.
For some, this means taking a significant haircut on profit, or
even putting personal funds on the line. Many realize that they have no
other choice if they want to sell units.