Extravagant 200 unit building 1 tenant

http://news.yahoo.com/s/ap/20090801/ap_on_re_us/us_lonely_highrise

Creepy as can be

 

Speculative capital.

 

Most

Not all though

 

I've heard a scheme that helped fuel the housing hyperinflation of the 90s was setting up parent companies, who then had affiliates borrow money to build condos. After the money was lent, it was transferred to the parent company and the affiliate company could claim bankruptcy.

That way, a profit had been turned whether or not such luxury condos incurred tenants.