For years, low interest rates fuelled a big-city condo-flipping frenzy. Profits got bigger and condos got smaller. Now the bubble has popped, leaving behind thousands of unsellable, unlivable units.
“Online, people are calling us greedy investors and saying we deserve to suffer like this,” says Sara. “But the ones losing right now are middle-class and working-class people like me, who were just securing something for our family’s future. The people who are actually rich aren’t losing here. They’re just waiting for the market to recover.”