This is a YouTube video titled "The WORST Real Estate Market in 2025" containing a monologue by Kevin O'Leary discussing the challenges faced in real estate development during the COVID-19 pandemic, including halted construction, cost overruns, and supply-demand issues. The content is from June 25, 2025, and focuses on the impact of government and market conditions on development projects.
So worst deal, California. It started off great, and then Covid came. So now I got three separate apartment complexes in development during COVID Oh, wow. No construction. Got it. And each one of these buildings, 200 million apiece. So let's say you're halfway through a building, you have 100 million. In each building is 300 mil. Oh, yeah. I'm sorry I brought this up, right? And I'm like, what do you mean, you can't build anymore, right? No, we have Covid. Nobody goes outside, no building. So they created this thing. Thing where nobody's building, everybody's out of work. And so what happens now? 18 months later, you got all that cost, and they open up the trap door and say, okay, we can go back to building. Now you have major supply demand problems, right? You got a demand that's skyrocketing because. Right. You got guys like myself that needs to get this thing built, people getting back to work. So what happens with the subcontractor trades and everything else? Costs go way up. Your general contractor comes here. I can't hold costs. Yeah, so you have huge cost overruns, right? That's what could affect us in development. If you have bad government.
