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Failed condos frustrate agents

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Real Estate Professional | 10 Jun 2015, 11:30 AM Agree 0
An aborted condo development for Eastern Canada is highlighting the growing challenge for agents working the lower end of the market.
  • EddieN | 10 Jun 2015, 03:03 PM Agree 0
    Noble ideas never pay off. Sarcasm aside, people who rent are typically in the lower income bracket. That also translates into inability to save enough for a down payment and a likelier chance of a default. At the end of the day, as expenses to operate a condo building go up and fees increase, something won't get paid - either utilities or maintenance fees or mortgage. Who is going to fix the problem when massive defaults occur? The same low income people will be clamoring for the government to step in and save them. So yep, noble idea but completely lacking practical sense
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