Oakville Homes

December 15, 2008

Mattamy Homes going bankrupt???

Today, I visited the “Urban Toronto” website and read a discussion on Mattamy Homes going bankrupt.  One of the contributors stated he received the information from a source “who is very reliable and connected”. 


Mention was made of the fact that Mattamy Homes has extended itself in the crashing U.S. market and that money flow problems may be resulting.


Although there was some positive feedback concerning Mattamy”s chances in the Canadian market, it was pointed out that they have closed their “GTA East” office in Markham and have laid off half of the staff.  As well, the Design Centre in Markham is supposedly closing as well.


If any of this proves to be true, it only strengthens the argument that those who have purchased a home in this market should invest in a house inspector to ensure that the quality they paid for is not sacrificed on the alter of a slow market and rising costs.  For those that have already gone through some issues with Mattamy Homes and are relying on statements issued by Mattamy Homes, based on past performance, I would certainly ensure that your interests were being looked after by a reputable professional.


Now is the time to consider your options, not when you are doing your PDI!!!

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1 Comment »

  1. i was one of those employees that got let go. all i have to say is the product is barely screeching by the building code inspections. as in another words built as fast and as cheaply as possible. used to be a outstanding company one i was proud to work for. but in the last 4 years nothing good has came out of the company, sure the downward market has a say but i believe its due to the fact that one family of people has taken the higher up jobs and dont deserve them, its funny how last name alone can destroy a company.

    Comment by Anonymous — July 20, 2012 @ 11:17 am | Reply

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