4w ago

‘A downturn that is really starting to wreak havoc:’ New condo sales in GTHA continue decline as developers cancel more projects

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Maybe they should build condos people actually want to live in, instead of shoebox “investment” properties.
- Yeah, this is well described by considering the target market is investors and investors have stopped investing due to various factors.
Make the condos the size they were 30 years ago so families can live there healthily and see what happens.
- And use actual walls instead of glass facades with kilometers of aging gaskets in the seams.
  I can't afford a house. I need a decent sized 3-bedroom that I can stay for a very long time. This basically means I can't use almost anything built after the early 90s. And anything glass-and-gasket means significant jumps in maintenance over the long run.
The only place in Canada that gets housing right is British Columbia.
After decades of failure, the newly elected government of David Eby actually started to fix the problem.
https://en.wikipedia.org/wiki/David_Eby#Housing
In the long term, it will pay off. Ontario is still asleep.
- How has this impacted the type of development, and price of housing in BC so far?
Will this finally bring prices down in the Greater Torhonto Area?
- LOL
- Probably not. Toronto city council is bought and paid for by developers and Dougie loves to interfere when the stars align and they try to do the right thing for once.
So it wasn't a supply issue after all? Weird. It ended up being about selling them as a commodity for investment, just like everyone's been saying?! Who'd have thunk it.

10 comments