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I was speaking to one of my coworkers in Kelowna who estimates. He was telling me they currently have 3 towers on the books, one is half done, one is just starting and one is still a bit out and they are all behind almost 1 year from presale estimated turnover.
He was telling me they were marketed as a great option for a vacation spot/Airbnb being near the water. He was saying it will be interesting to see how many of the presale owners complete and how many just cut their loses and walk away with the current interest rates and now the changes to the short term rentals. That last tower for example, if it hasn't even started it's probably at least 2+ years out from turn over, not sure on the height which could make it longer than that.
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The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa
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