Comment 56636

By nobrainer (registered) | Posted January 17, 2011 at 11:32:26

Can somebody explain how Vrancor makes money like this?

It's just property speculation. If someone else does the heavy lifting and downtown turns around, these lot squatters can sell at a profit without having to do any work, the problem is that there are so many lot squatters in downtown Hamilton that there's no one left to do the heavy lifting (except for a few in James North etc). So they all sit around waiting for someone else to make the first move but refuse to sell because they'd take a loss. It's a catch 22.

Comment edited by nobrainer on 2011-01-17 11:32:44

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