Quote:
Originally Posted by Londonee
Hopefully these can at least get built - I'm worried we're going to see a bunch of unfinished holes across the city that won't be filled for a long while during a pretty disruptive recession (depression) that we're steering towards. I mean, the luxury market for $2mm+ condos can't be searing hot at the moment - and probably won't be any time in the near future.
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Yes. I feel fairly certainly that some buyers will use the drop-dead completion date in their contracts to pull out and get their deposit back. In fact, I actually know some who have said they intend too. Not for Arthaus or Laurel but for similar $2 MM+ projects in more boutique buildings that are currently stalled by the construction shutdown.