Is Canada Propping up Condo Investors to Prevent Prices From Falling

Is Canada Propping up Condo Investors to Prevent Prices From Falling

In 2020 Move Smartly host John Pasalis raised an important concern about Toronto’s pre-construction condominium market – that investors were paying a very high price when compared to what existing units were selling for. What would happen if those units were not worth what the investors paid for them when they were done?

Many of those units are now completed, and in many cases, they are not worth what investors paid. But why are we not hearing about distressed investors who can’t get a mortgage because they overpaid for their condos?

In today’s episode, John asks if our government and big banks are propping up these condo investors to prevent condo prices from falling.

Credit to : City News