Admiral Beez
Superstar
How about making what the homeowner (rather than investor) market wants at prices it can afford? You pillocks.
www.thestar.com
Paywall free: https://archive.is/bBjcX
Calling these developers “homebuilders” is a sham. They were never building homes, they were fueling a speculative ponzi scheme. Investors bought condos with no intention of living in them, often not even renting them out. The plan was simple: flip before closing, pass it to the next investor, let it sit vacant or turn it into a short term rental, then flip it again. Homes were never the focus, only the churn of speculation.
Shame on any level of government that suggests bailing these developers or their "investors" out now that the chickens have come home.
A housing ‘drought’ is coming, Toronto homebuilders warn — as only 118 new condos sell in August
Toronto saw only 300 sales of new homes last month, more than 1,000 below the 10-year-average.
www.thestar.com
Calling these developers “homebuilders” is a sham. They were never building homes, they were fueling a speculative ponzi scheme. Investors bought condos with no intention of living in them, often not even renting them out. The plan was simple: flip before closing, pass it to the next investor, let it sit vacant or turn it into a short term rental, then flip it again. Homes were never the focus, only the churn of speculation.
Shame on any level of government that suggests bailing these developers or their "investors" out now that the chickens have come home.
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