Without going into whether that is true or false, Toronto did fall prey to this very issue - tons of massive condo buildings built with shit materials, tiny impractical layouts, basically made ‘for investment’. For a while people would buy and sell them, as investment properties, without ever trying to live in them, and now that part of …
Without going into whether that is true or false, Toronto did fall prey to this very issue - tons of massive condo buildings built with shit materials, tiny impractical layouts, basically made ‘for investment’. For a while people would buy and sell them, as investment properties, without ever trying to live in them, and now that part of the market is pretty dead and massive buildings sit unfinished because the investors can’t justify/ finance finishing the buildings because nobody wants to buy the shitty impractical overpriced badly constructed shoeboxes.
Meanwhile people are paying 60% of their gross income to house themselves because prices are insane.
There needs to be some common sense policy that ensures the fucking rich people don’t ruin everything like they usually do.
Without going into whether that is true or false, Toronto did fall prey to this very issue - tons of massive condo buildings built with shit materials, tiny impractical layouts, basically made ‘for investment’. For a while people would buy and sell them, as investment properties, without ever trying to live in them, and now that part of the market is pretty dead and massive buildings sit unfinished because the investors can’t justify/ finance finishing the buildings because nobody wants to buy the shitty impractical overpriced badly constructed shoeboxes.
Meanwhile people are paying 60% of their gross income to house themselves because prices are insane.
There needs to be some common sense policy that ensures the fucking rich people don’t ruin everything like they usually do.