Why are so many big-city condos sitting empty? | About That - YouTube
They're outlining how underwater the average investor is now what with prices and interest rates and what the rental market will bear.
My takeaway is essentially that. They bought shit they never intended to live in, so they gave no thought to anyone ever buying it from them for that purpose. One of them was 270 sq ft. FFS it's a cell. It had a bunk bed.
A lot of similarities to China's real estate bubble(s).
@PNS I watched that thinking 'stupid center of the universe blog is all about the Toronto market except for one mention of Vancouver at the end' and then it's the cbc. Lol.
I agree that anyone who buys a 300sqft place to rent for $2500 gets what they fucken deserve.
It's many Joe Blow folks' retirement plan. Inexperienced in real estate, especially urban rental real estate.
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