The Dallas News reports on the condo bust in that city, with the subtitle, 'Three recent projects have been canceled, but no reason to panic.' "At times it seems like all of Dallas is going condo. From high-rises in Uptown to new projects in the 'burbs, residents are embracing the lifestyle. Even businesses have gotten into the act, buying office condo space instead of leasing."

"But in the real estate industry, there can be too much of a good thing. Developers of an Addison condo complex have canceled the project after pre-sales failed to meet expectations. It's the third Dallas-area condo deal to be dunked in two years."

"Last September, an Oak Lawn condo conversion, the Rienzi, switched back to rentals after a slow sales start. Before that, the Caruth apartments near NorthPark canceled a condo conversion after months of marketing."

"So what does this mean for the local condo market? There is no sign of a condo crash like we saw in the late 1980s. With the collapse of the regional economy back then, it wasn't uncommon for condos to lose half their value or more."

"And in North Texas, it's not the same situation you find in Las Vegas, where more than a half-dozen high-rise residential buildings have gone under before the first spade of dirt could be turned. Construction costs were rising faster than sales prices."

"Like any real estate deal, unless the price, location and quality are a hit with consumers, the project won't fly. Only time will tell how many North Texas residents will want to live in a high-rise. That holds for office condos, too."

"In late 2004, developers announced they would turn the 2525 McKinnon office tower near the Crescent into office condos. But recently they threw in the towel and hired Stream Realty to lease the building."