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this post was submitted on 12 May 2024
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We don't need to hate on the developers, but neither should we respect them. They were taking advantage of a bubble, knowing full well it wasn't sustainable, and if they get burned by it, meh.
I'm perfectly fine with hating and even blaming developers. These are people who have decided that making money is a good enough excuse to cause suffering.
I find it hard to blame people for doing what they are incentivized to do. Sure, I would love if everyone is morals first but given the open to build a "luxury" condo that gets N% return on investment or a "basic" condo that gets %M return on investment they are going to build whatever one is higher.
Most of the blame should lie on the government for not creating the correct rules and incentives.