Wealthy collectors are buying condos just for their cars

Car condos allow collectors to admire their stuff and hang out with others while doing so. The Hangar Group Car condos are popping up around the country as car enthusiasts need more space for their vehicles. Some owners are paying over $1 million to house their cars and other collectibles. The benefit of hanging out with other like-minded collectors has been an unexpected bonus for some. Scott Cunningham has a fondness for Ferraris . Judging by what else he collects, he also has an affinity for Porsches, superbikes, electric guitars, and wine. For years, he admired his collection from home. Once his children were grown, and he and his wife downsized from a house with a four-car garage to a townhouse with a one-and-a-half-car garage. Suddenly, Cunningham needed a place to put his stuff.