10-23-2023, 01:10 PM
(10-23-2023, 01:04 PM)CP42 Wrote:(10-23-2023, 12:31 PM)KaiserWilhelmsBust Wrote: TEK was a couple months earlier, which was enough to get the peak of the market.
Rising costs and interest rates have significantly reduced buyer demand. Q, Strata, Station Park have all had similarly slow sales.
Difference is VanMar is spec building DUO
What does spec building mean?
Spec building is just the developer building on speculation, a lot of the time that is how office developments are built, the developer will build the building purely speculating that the market will require more office space, likewise in residential it just means that all the units haven't been sold yet so they are building it speculatively expecting future demand to require it.