Vegas may halt condo conversions
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From Times Wire Reports
The Las Vegas City Council is considering a six-month moratorium on the conversion of apartments to condominiums, a move proponents say will stop a drain on affordable housing.
Apartments remain the most affordable housing on a month-by-month basis. Renters pay an average estimated monthly cost of $790. New-condominium buyers pay $1,130, including association fees. Conversion buyers pay an estimated $1,056 per month, according to figures provided by Las Vegas officials.
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