A new FHA ruling can strengthen the appeal of owning a condo. The move will encourage mixed-use developments in both urban and suburban areas. This can be attractive to both young and old buyers to buy condos in these settings.
Another ruling has changed the number of units, in a condo development, owned by investors to 50% instead of the previous 10%. The other condos must be owner occupied. This will make condos easier to finance.
FHA insures mortgages and offers loan programs for first time home buyers including a low down payment of 3.5%.