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Metro Vancouver's glut of empty condos: What's unsold and why?
No amount of incentives seems to be able to reverse the glut. How did we get here? And how bad could it get? Read more.vancouversun.com
All in all, it looks like the developers put themselves in this situation. They chose to target investors instead of first time home buyers. The market changed, and now they're unhappy because their target is gone. Oh well. It's not like they made a crap ton of money in the last 10 years...Another way to move stuck inventory is, of course, to reduce prices. McMullin said developers are already offering widespread price cuts and incentives.