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.
Condos need to be built for families, give me more three or four bedrooms in the city, and make it more affordable.
Condo developers can’t build these affordable three or four bedrooms though, because on average these layouts are about 20% larger in size to their comparable European unit layout. This is all to due to building code, and something called “point access layout” vs “common corridor layout”.
If we could get more families in the city buy making costs comparable in sq/ft to a single family home in the suburb we could make cities more enjoyable and give people a better sense of belonging, as opposed to just commuting in for a few hours.