[David A]

It's probably a mix of both.
Local market is not as profitable as other places in North America, this is obvious, and has been heavily debated on this forum. It is one of the reasons why we see Toronto developers bail out time and time again. There's just not as much money for them to make here as there is in other places that they're more familiar with (mostly Southern Ontario, in general).

But the Chinese real estate bubble has definitely burst, capital is tighter in China and the government has been very controlling with external expenditures, especially in things like this, because they want to keep as much capital as possible inside of the country. This was probably even a bigger factor than the first one, but it does not make he fact that our market is not as profitable for developers as others in NA.

Oh, affordability issues are starting to bite hard in more expensive places like Toronto. For instance, a headline from the Globe and Mail yesterday is:

Toronto developers delay launch of about 14,000 new condos as sales dive​

Unfortunately, the rest of the article is behind a paywall, but the headline is this case is fairly representative of the story.

 

[soupcrate]

Oh, affordability issues are starting to bite hard in more expensive places like Toronto. For instance, a headline from the Globe and Mail yesterday is:

Toronto developers delay launch of about 14,000 new condos as sales dive​

Unfortunately, the rest of the article is behind a paywall, but the headline is this case is fairly representative of the story.

Gift article:

Toronto developers delay launch of about 14,000 new condos as sales dive

Demand wanes amid higher borrowing costs and economic uncertainty

www.theglobeandmail.com

If you're going to subscribe to a Canadian newspaper, I highly recommend the Globe and Mail. Some of the best original reporting in the country IMO.

 

[Canadian 001]

So worst case scenario is that Rohit buys it and builds Phase 3 of Muttart Lands with another identical 6 storey wood framed masterpiece?

At least there's is a solid plan b
Rohit is doing a good job

 

[husky]

Oh, affordability issues are starting to bite hard in more expensive places like Toronto. For instance, a headline from the Globe and Mail yesterday is:

Toronto developers delay launch of about 14,000 new condos as sales dive​

Unfortunately, the rest of the article is behind a paywall, but the headline is this case is fairly representative of the story.

Yup. I've heard one of the major Vancouver developers could be going under soon too.