But now, condo developers are willing to overlook all that, and swallow up the land.

State law requires a condo developer to let clients out of purchase contracts when the original offering plan is adversely affected.

"Ten years ago, condo developers considered a food store a detraction," he said.

But only a handful of condo developers are switching their projects to rentals.

"I realized that condo developers were making $150 a square foot more than I was," he said.

Landlords and condo developers, they say, will just have to reduce their prices.

But in most cases, condo developers will not negotiate provisions.

In Nevada, condo developers generally take "reservations" for unbuilt units.

With condo developers bidding for the land, they created an artificially high price.

The latest salvage operation on the part of condo developers is far from a sure bet, however.