Posted Nov 10, 2018, 8:23 PM
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Registered User
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Join Date: Dec 2015
Posts: 144
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Quote:
Originally Posted by TheRitsman
I mean I have nothing against Micheal, but it seems a lot of the developments he works on fall through as well, or disappear. The Jamesville lofts "nearly sold out immediately", but then the website hasn't been updated since like last year, and it still says stuff about a March 2018 sales event.
Seems like a lot of developers are looking at Hamilton but are trying to gamble these plots of land and developments like stocks and wait until they can get maximum profit instead of starting once they've got their money. 85% sold out is massive, and if that is the case, they should start building immediately because they know there is a market and they should be purchasing and building asap, instead they are building slowly to keep the costs of units artificially high.
I believe this to be an agreement among all developers to maintain a high cost to real estate in Ontario. There are only a few developers that I don't think are doing this, Darko being one, but he waits until his stuff is built apparently to sell, unless I am mistaken about 20/22 George in that the building is nearly finished and no units have been sold.
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Seems like it kinda. I bought a unit in vista, 10/22 is almost all the way up and in the same time they cant get six floors done lol
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