ERGO, 30 PERCENT REMAINING FOR NON-EAGER-BEAVER CONDO-SHOPPERS
|Percentage Sold Proclaimed (7/22/2016 long shot)|
A banner large enough to be visible from blocks away informs West Loop skyline gazers that The Wilshire is now 70% sold. Is that impressive? Is it lack-luster? Is it true? And when was now? The observant public is left to wonder. Is there cause for celebration; a subliminal message of urgency; or a perceived need to drum up a sense of scarcity, just as there are signs of overbuilding and impending glut at the high end of the residential market? And if the condominium tower is close to full already, if not to completion, what's the need for advertising percentage-status with signs tall enough to cover two unfinished condo units stacked on top of each other? -- If it's getting close to going, going, gone anyhow!? -- Perhaps 70% isn't really all much at this stage of the game. More than the equivalent of glass-half-full, but not enough for the developers and financiers to break even. Perhaps the condo bubble is on the horizon, to soon take the place of the construction cranes that currently populate the skyline.