Can you believe that, it’s incredible… there’s thousands and thousands empty condos in Montréal, a lot are new, and they continue to build them, sometimes even in high rising towers and all. A lot of them are illegal airbnb too.
Why they cannot sell them? They are small, expensive, and sometimes badly placed (no metro, no parking, bad area, place without services around, etc).
13 in 3 months in downtown area!!!
I wasn’t really talking about affordability over all, which won’t get better while governments allow corporations and “mom and pop” to buy and hold hostage the housing supply. But if reality were to actually affect the market, condos would crash hard, which maybe would help a bit with affordability?
But yeah, I wouldn’t live in Toronto either if my industry didn’t pay so well (film and TV production). It’s wack.