…70% below asking price…!
In this instance I was referring to 70% off original new sale price on a repossessed coastal development. In my opinion they are probably worth now only 20% of original values as a wholesale price, with legal responsibilities to complete the development. Buying new build for resale in a market without demand is either a one chance in a lifetime or a certain way to loose money and have sleepless nights. I pretty sure it’s the latter.