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Toronto developers are getting desperate as no one is buying condos anymore (www.blogto.com)
submitted 7 months ago by lautan@lemmy.ca to c/canada@lemmy.ca
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Condo sales numbers in and around Toronto have taken a drastic tumble so far this year, and now that the market is starting to lean towards buyers ...

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[-] Reddfugee42@lemmy.world 1 points 7 months ago* (last edited 7 months ago)

he was making maybe $10,000 in profit for a 3 month process.

He was making $40k a year and that was enough to upend the entire regional market?

[-] WamGams@lemmy.ca 3 points 7 months ago

That is per mobile home. But yes, eventually he got priced out of doing multiple mobiles at once.

If it was only him doing this, the system would have corrected itself. The issue is thousands of people were doing this.

this post was submitted on 12 May 2024
144 points (96.2% liked)

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