Share your insights or perspective on the financial matter presented in the input.

Why do banks finance shared construction as mortgages instead of financing it directly and selling the apartments in a building?
Assumption - you live in a country like Australia, which has "recourse" mortgages. If you buy the apartment and take out a mortgage, the bank doesn't care too much if your apartment gets built or not. If the construction fails, you still owe the bank the money.