The Wells Fargo Building framed by the American Towers Condos in Salt Lake City, Friday, Nov. 17, 2023.
“Condominiums are a critical piece of what we need to do in our state,” said Steve Waldrip, the governor’s senior advisor for housing strategy and innovation.. Homeownership and the opportunity to buy and sell property is important for Utahns who someday want to retire, Waldrip said.in the state are now priced out of homeownership, explained Dejan Eskic, senior research fellow at Kem C. Gardner Policy Institute.
Yes, according to Eskic’s data. In Salt Lake County, the median two-bedroom condo is $2,073 , while renting a two-bedroom would be about $1,604. Markets with a lot of wealth — think Miami, Hong Kong, Tokyo, New York — have more condos sold at higher price points that make the risks more appealing to developers.
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