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Good tax reasons to demo. They can deduct a big chunk of the price they paid for the land. I guess they'd need income to take advantage of the loss and it doesn't look like these guys know how to make money in this town!

The correction was coming naturally due to the massive oversupply. But the credit crunch has accelerated it. Who says prices can't fall precipitously? Not my pals at the other end of the trading floor who saw oil drop 50% in less than 6 months! Guess who is buying all these pre-sales...

Define 'SOLD'. When that Russian steel dude bought his own penthouse for $10 million at the Trump tower is that really a sale? How about the mysterious Asian buyer for $20 million on Bloor? So much is hype and like TOareaFan wrote, when you got so many flippers the banks get nervous. It...

Yup, think so too. Went from landmark to walmart.

To make it look this it's going ahead to the nervous flippers in there. Par for the course with this builder.

Agree with most everything but this statement. Lenders protect their own butts first at the first sign of trouble. They did it in 91 recession, did it after 9/11 and they'll do it again now. If they want to kill a deal they will and you can't stop them. Extraordinary circumstances clause or...

As long as employment and immigration holds up we can probably escape with just a 20% correction from the peak. We're already at about 6% I think. There's just no possible way that Toronto can escape a housing correction now with what's going on in the world. It is going to be a long, cold...