1/ The Riv, a planned 37-storey tower at Queen & River St., is officially cancelled. Developers blame a dire condo market with rock-bottom sales and skyrocketing costs.
— Shazi (@ShaziGoalie) December 4, 2024
3/ Condo sales in the GTA are 75% below the 10-year average. Developers can’t hit pre-sale thresholds required to secure financing. Projects are getting axed before they even break ground.
— Shazi (@ShaziGoalie) December 4, 2024
5/ Fun fact: Toronto's municipal development charges have risen 933% in the last 15 years. Yes, you read that right. How can builders keep prices reasonable when costs keep ballooning?
— Shazi (@ShaziGoalie) December 4, 2024
Seeing a trend of marketing targeting first-time homebuyers:
‘Stop renting, start owning!’
‘Build equity, not your landlord’s wealth.’
At current rates and sky-high home prices, it’s a trap.
High borrowing costs + falling values = owning debt, not wealth.
— Shazi (@ShaziGoalie) December 3, 2024
Someone is selling a 1 bedroom condo in Toronto for $1.2M pic.twitter.com/4sSxCqJ97p
— Shazi (@ShaziGoalie) December 4, 2024