09-18-2022, 08:18 PM
(09-16-2022, 11:22 AM)Bytor Wrote:(09-16-2022, 08:19 AM)Lebronj23 Wrote: ‘Kitchener- Waterloo condo sales grind to a halt’
https://12ft.io/proxy?q=https%3A%2F%2Fww...-halt.html
"…simply because the math doesn't work".
Is it really because the math doesn't work, as in they couldn't break even? Or is it because they are making bank on the atrociously high prices that have jumped 20-40% per year for multiple years in a row, far outstripping any inflationary increases in construction costs, an dthey just don;t want to give up huge profit margins even though they could drop prices significantly from "what the market will bear" and still have a tidy not profit?
What the fuck does that even mean. How would condo developers, who pre-sell the vast majority of their units, "make bank" on price hikes during their construction phases. Do you know how the market even works?