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I meant the buyers. My property manager is also a real estate agent, and he had clients that had bought into this project. He mentioned that the project had been canceled. I was only interested in this project because my parents bought a unit in Emerald Park, so I was just curious to know...

I didn't want to say anything before, because people on here tend to get upset over things like that, but I have heard from two different real estate agents that this project was canceled. Apparently, the owners were told that they can get their deposits + interest returned.

I find it interesting that you mention Los Angeles. It was only a couple of years ago when people were talking about how homes prices would never drop there... how they are a world-class city and everyone wants to live there. Funny how quickly things can change. :rolleyes:

I actually found an online version by doing some googling :) http://www.financialpost.com/story.html?id=857982 Apparently, he inherited some money. I just wonder how many buyers in Canada overextended themselves the past couples of years.

In yesterday's Financial Post, there was a pull-out section about the luxury condo boom in Toronto. One of the articles was outlining the types of people who purchases these units and the first paragraph was about a 25 year old who had recently purchased a 1400 sq.ft condo for $1.5 million...

Congrats on the purchase, the buildings look great IMO. I hope it's not rude to ask, but I was just wondering if the prices have been raised at all? My realtor sent me the following price list sometime in July: Suite Type Suite Size (sq.ft) View Special Broker Price 1 bedroom 454 + 60...

Do you really want to make your parent's spend their time running after tenants? My parents have always had rental properties, so I know that having tenants is no piece of cake. Even if you forget about repairs/questions/general hassle, what if you get one bad tenant that decides that he...

Didn't really make much sense to me either, but I'm guessing because we haven't had the same run up in prices, a relatively small price decline would really hurt us? i.e. some parts of western Canada had YOY increases of 30% or more... so a mere 9% drop still leaves them in a great position...

Haha, that wouldn't be too bad... I could get Starbucks and do some shopping while visiting the 'rents :)

Hey, thanks for the reply. I know what you mean... I don't think anyone will be making a quick buck off these condos for a while to come. Although I am looking to live in the condo, when you are spending that much money, it's always an investment imo. Anyways, I have no clue how much they...

My parents bought into this project. The building looks like it's going to be pretty from the renderings. I'm just curious to know what kind of stores are going to be in the commercial space... anyone have any idea?

Hmm... so I guess the general consensus is that this isn't a good project to be buying into? I just got an email tonight from an agent about this building and I thought that I might be interested, but the prices do seem crazy high. I guess I'll just sit tight for now...