Wednesday, August 14, 2013
I say GREED is a factor in the recent condominium slow down!
Recently I had a call from Frank O'Brien who writes for Western Investor and Business in Vancouver who asked why I thought there had been such a significant slowdown in the number of condominium projects getting underway around Vancouver and elsewhere in Metro. To my mind, the problem was complex, but two key reasons were unrealistic asking prices on the part of vendors, and the uncertainties associated with excessive Community Amenity Contributions (CAC's) being charged by Vancouver and other municipalities. Here's Frank's story.