the pope already covered the issue of The Anvil being dropped on "unsuspecting" buyers' heads with a demand for $20,000 to $40,000 if they want to keep their units pre-bought in good faith almost two years ago, but (holding back expletives) ferchrysaches! Anybody who ponies up for that abuse deserves a good swift kick in the head.
The developer - United Properties -
is a well-known developer in the Lower Mainland with more than 10 recent developments, including high rises and low rises, completed...It’s unusual to see such a successful developer run into major cost overruns. linkerIf they are that successful, let them eat the "cost overruns", and send them into receivership if that's what it takes. The Sophia developer may have found a bunch of fresh fools to sign on for future bankruptcy to save their sorry arses, but this is much later in the game (inventory-wise). I hope the sucke..., er, people who pre-bought refuse to pay more, and that the general masses are beginning to understand that it is all but over, and thus, will not buy. This company should be able to eat something - in light of all their successes. The sad thing is, the bankruptcies are being passed down to those who can least afford it. I bet the President of the company has a vacation home in Maui.
The Great Extraction is playing out.
"Leading Economists" are now speaking openly of a "Global Recession" in the works. I'm no economist, but I have been saying for at least 5 years that a Global Depression was brewing. If these guys are so prescient, why could they not see it?
Don't worry, buy away. Bob Rennie, Cameron Muir and the boys are predicting high, single digit increases.
This started out to be a good rant (up around the block quote), but li'l solipsist refused to nap, and I have been busy for the last 7 hours or so. He took the rant right out of me.