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This has been circulating the web for a few years now and what strikes me every time I see it is that something does not add up. Who would build that many ugly
by INTPenis 5y ago
This has been circulating the web for a few years now and what strikes me every time I see it is that something does not add up.
Who would build that many ugly houses with no promise of people moving in? It just doesn't make sense.
I know the story says 300 were "sold" but that still doesn't add upp. If they sold 300 house before they were even finished then it's already a red flag. Who buys a house before it's finished? Before they even know what it's going to look like in the environment where it will be located.
It reeks of fraud to me. Most likely they got grants from the government for each "sale" they made and then built shoddy houses and kept any money they didn't have to spend on proper building materials and workers.
Either that or they're just the dumbest people in the world, with money, and a vision. Because that's what it would take to litter the landscape with those monstrosities. A lot of money, no brains and a vision.
- IkmoIkmo 5y ago> Who buys a house before it's finished? I'd say this is the norm for most property development around the world. A developer creates a plan, people apply for it and get individual mortgages, the developer takes that money (in-fact having sold say 60% of them) and delivers within 3 years all the buildings, while selling the remaining 20% during development and the other 20% after.
- INTPenis 5y agoYes of course, it's the same here in Sweden. In fact I pass a newly developed area regularly to visit my brother. BUT the big difference is that while they're building the 3rd and 4th house, people are already moving into the 1st one. This turkish organisation built SEVEN HUNDRED houses without anyone moving in. Surely you can see how that does not add up?
- celticninja 5y agoIt's is called buying off-plan and is very common, especially for apartments in residential blocks. You buy your apartment early on and it is cheaper than if you buy after completion of the project.
- derekp7 5y agoAh, so almost like crowdfunding sites.
- neals 5y agoWell... somebody has to pay something before people start building...
- brandall10 5y agoAt least in the US, having a certain number of presales is literally a requirement to get loans for developers. My folks bought their last two houses like this. I bought my last two condos this way. All before ground was broken, average wait time of about 2 years. Note that in these cases a presale does not mean the property is fully paid for - it means that some deposit and paperwork have been filed and that the final price on close of escrow has been locked in.