Quote:
Originally Posted by BlackArcher101
I don't see how that could be considered the exact same position. Condo builders are in it for the profit. They are a business so of course they will have clauses protecting them. If the cost of business goes up, so does the cost of their services/product, happens all the time. The buyers who get the shaft here are the investors who are treating homes as extra investment income or a business who expect to make a profit, but in reality they are stuck by the same binding rules by those who just want a place to live. Buyers must assume there will be risk.
Don't blame the condo builders for raising the prices and the buyers being stuck with the contracts. Correct me if I'm wrong, but if prices are changed midway through a project, don't they give you the option to get out of it? I know at least some that do.
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Correct me if I'm mistaken. But it seems you're suggesting the developers deserve leeway to build condo's as an investment/business and be protected but not people buying condo's as a business/investment.
I could be totally misinterpreting this?
Now this I'm not interpreting as coming from you, but I've seen it elsewhere. There often seems to be an attitude towards people who bought properties in the past few years as an investment that this boom and subsequent drop seems to be their fault, and any misfortune that falls upon them is deserved.