There is likely going to be a global recession worse than 2008, so there's no way the real estate market won't be affected.
What's going to happen to condo projects that are in the sales phase?
If there is a credit crunch, what about projects like The One that might have tenuous financing?
A friend told me the site is officially active again as of today and the halt work order has been removed.
Should start to see lots of action on site again!
It's a big deal because it's not normal for a construction project to have an UNEXPECTED stoppage of this length. It will disrupt the Master Schedule and Occupancy Dates. This all means money will be lost.
I work in the construction industry.
You've mistakenly taken my point as some sort of attack on plumbers. The general average quality of condo construction is low, so I'm taking a shot at all trades, but more importantly, developers. Shitty plumbers often get more contracts because their low...
Considering that most new condo builds are of shoddy quality (ie. plumbing), I'm not sure whether the Province's proposal to let developers self-regulate will worsen the situation or simply keep it at status quo.