Even more condo developments in the GTA have gone into receivership (ON)

/ Owner - July 8, 2024

Condo developers are having a tougher time moving units in Toronto than ever as the market for the housing type completely flops, pushing some to offer desperate incentives or even halt new builds.  One indication of the troubling landscape — prompted by high interest rates and a general lack of affordability as home prices refuse to fall — is the fact that a staggering number of residential projects have gone into receivership, with the massive firms behind them unable to keep up with the debts of construction.    Read the article…………………………….

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