this post was submitted on 12 May 2024
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Toronto developers are getting desperate as no one is buying condos anymore (www.blogto.com)
submitted 6 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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[–] hanrahan@slrpnk.net 6 points 6 months ago (1 children)

I suspect developers are gonna stop developing.

That's what happened here in Australia and homes and condos (apartments) have gone from horrendously expensive to ridiculously horrendous expensive.

We don't build homes to house people either. Unlike say these guys

https://www.theguardian.com/lifeandstyle/2024/jan/10/the-social-housing-secret-how-vienna-became-the-worlds-most-livable-city

[–] sbv@sh.itjust.works 4 points 6 months ago

Yeah, getting the state to build/own seems like a pretty important part of the solution.