Quote:
Originally Posted by stampsx2
I think condo prices are down because Nenshi wanted it that way. He wanted more density and about five years ago he did a major push for building up instead of out. The result is a poor supply of detached homes. He has overbuilt the condo market without the demand being there. It was simple economics that he obviously didn’t care about.
Now with covid and people wanting more space, we have a problem.
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I can't remember when, but Nenshi recently mentioned he bought a condo in East Village as a rental property. It might have been March 2020 as I remember he mentioned his timing was horrible. He would have no vested interest in prices going down