lautanToronto developers are getting desperate as no one is buying condos anymore
Max-PHave they tried building average, affordable condos instead of luxury condos?
All the new condo developments I’ve been seeing everywhere are more expensive than a townhouse nearby, and half the size of nearby apartments that are also half what the mortgage would be on a 1-2M fucking condo.
Pretty sure they can do away without the penthouse pool and hot tub and bring the price down, but it wouldn’t be nearly as profitable for them so they won’t.
Nobody is actually trying to help lower home prices because everyone’s retirement plan depends on houses being unaffordable.
psvrhHave they tried building average, affordable condos instead of luxury condos?
They don’t want to, because that would mean less money. If they slap some cheap faux marble and an extra sink in the bathroom, they can charge tens of thousands of dollars more for the same space.
The rich will not accept making the same or less money for a year or so. They have to have more. A lot more.