27
Condo sales in Toronto, Hamilton fall to 35-year low in third quarter (www.theglobeandmail.com)
submitted 1 year ago by to c/ontario@lemmy.ca
14 comments fedilink hide all child comments
 

Only 319 new condo units were sold in the third quarter, down 54 per cent from a year ago and the lowest quarterly total since 1990 when Toronto’s condo market faced a severe crash, according to a quarterly condo report by the real estate research firm Urbanation.

Lemmings, what are your opinions on the housing market?

you are viewing a single comment's thread
view the rest of the comments
[–] 5 points 1 year ago (6 children)

Private Industry is telling the government "We can't handle record prices and record demand. Please socialize housing construction".

  • permalink
  • fedilink
  • source
  • hideshow 6 child comments
    •
  • [–] [S] 1 point 1 year ago (3 children)

    Can you explain this?

    Do you mean private industry is asking for social money to invest in their construction?

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 3 child comments
    •
  • [–] 1 point 1 year ago* (last edited 1 year ago) (2 children)

    No

    I mean private industry can only operate on a profit based motive. Housing being a literal neccessity that private industry self- admittedly can't do, it is now up to the public to take over.

    The last 50 years of neoliberal rhetoric around privatization has only brought about multiple existential crises. It's long past due time to put bad ideas to rest.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 2 points 1 year ago* (last edited 1 year ago) (1 child)

    tbf, you actually could make quality housing, high-density housing for an affordable price, and sell (not rent) it for a profit...some real estate developers back in the day used to do this.

    it's just these businesses realized they could make even more money not building homes, if they captured legislature to get themselves a bunch of speculation incentives then just purposefully didnt build anything new while sitting on old land/buildings.

    there is a long history of this same cycle of housing boom/bust going back centuries. there have been occasional surges in housing when someone with actual morals and work ethic acquired the capital to throw down housing.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •