If they're condos, you can own it, at least as much as you can own half a duplex.
If they're rental units, that's also ok, more supply brings down rents and lower rent causes more landlords to sell. Extra supply does add downward pressure on prices one way or another.
If they're rental units, that's also ok, more supply brings down rents and lower rent causes more landlords to sell. Extra supply does add downward pressure on prices one way or another.
I don't see where the "value destroyer" is.