Quote:
Originally Posted by TheHonestMaple
However, some developers use this to make more money on rising housing prices which it seems like the case here.
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Yes. The "What if we could get a whole lot more out of a new set of buyers?" reasoning.
It's shifting some cost-of-development risk to the buyers. For those purchasing strictly as an investment, maybe this kind of thing is more palatable (or at least "business"). For those buying for their future living space, it sucks. I wonder how often it happens.
This got held up a long time by the fighting over whether it should even be built. But that particular risk was all on the developer's shoulders. I don't know what kind of answer there is to this, but in this case it all seems quite unfair. I'm a believer in
caveat emptor but there are still a lot of grey areas to that perspective.
I guess we know what kind of "Burlington developments" columns are coming soon to a newspaper site near us.
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