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Protecting Against the Current Real Estate Market

For the past several months there has been a steady drumbeat in the press about the overheated real estate market. Is it a case of modern-day tulip mania or merely a reflection of the laws of supply and demand? Will prices continue to surge or is there a crash looming? Although macro economic factors doubtless are at play, nevertheless there has been little discussion of what action, if any, individual co-op and condo boards, buyers and owners can or should take, as a matter of law or policy, to protect their respective interests and preserve the stability of their buildings in this environment.

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