piefed.eePre-construction condo buyers face steep losses as Toronto prices slide
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Cows Look Like Mapswww.cbc.ca/news/business/precon-condo-consequen…
Headline has since been updated to:
Pre-construction condo buyers could face financial catastrophe without many options
It’s strange the article even has a regulatory section. The two plausible regulations would be preventing developers from selling till completion and more stregent mortgage requirements.
In both cases the buyer in the article and the developers would have screamed bloody murder a few years ago. People would probably against it today.
I wonder if that’s the kind of thing you could buy insurance for, but I doubt it’d be cheap since the payouts could be quite high and building wide.