Just Not ready

[5thhorseman]

Hell is a negative but bankruptcy only brings you back to zero.

Or if you have multiple projects, some of them go to zero but you still have the others. Each project is likely a separate incorporation. I doubt these developers will be that hard off.

[Tciso]

So like the the special projects office, they are picking and choosing winners and losers.

They are rewarding the mismanagement of developers who thought buyers would cover these charges and Provincial and Municipal Governments who thought it prudent to introduce these charges.

What of people who did buy into these developments and purchased units in complexes that are suddenly government social housing?

Remember it was the Vancouver real estate developers who were very cosy to then Mayor Gregor who not runs the Federal Ministry Housing and Infrastructure.

Don't forget the best part. This doesn't change the cost curve of any new housing projects, and it also doesn't build a single new house. It just rewards the investors/developers that built shit the market does not want.

[Meds]

This headline sums it up perfectly.....

https://nationalpost.com/opinion/canada ... going-down

https://ca.news.yahoo.com/first-reading ... 39614.html

(second link in case the first one is pay-walled)

[Tciso]

Dear Canadians, I had a chance to fix a major problem facing Canadians, and let home prices fall naturally, but I decided to keep prices high. And I did it with your tax dollars. You are welcome.

[Topper]

Yeah, using borrowed money, later billed to taxpayers, to keep the bubble inflated is ludicrous until you look at his base elbows up retirement age constituency who have staked their retirements on inflated property values.

If you follow Sam Cooper's "The Bureau" on Substack, he has plenty of links of the Vancouver housing price bubble to Chinese and drug cartel money laundering through Richmond private banks and casinos so the Reenie suggested opening up to foreign buyers becomes suspicious.

An article I linked to above noted that even when the US Subprime bailout was done, government first allowed the bubble to burst and a few banks to collapse before the bailout.

At the time, Canada rejoiced having not explored or allowed the "innovative new financial tools" that lead to the Subprime bubble.

[Topper]

Who was the Vancouver Mayor who raised Development Charges?

141% increase under then Mayor, now Federal Housing Minister, Gregor Robertson.

https://x.com/scoopercooper/status/2070 ... 75325?s=20

[Tciso]

Trudeau bought a pipeline and then spent 30 more billion completing it. Carney has looked at this, and he has seen the real problems with Trudeau's approach. Since then, Carney has NOT built a train, but still spent millions in bonuses. And now, he is NOT building condos for $billions more. As you can see, he is operating at unimaginable speeds, and by NOT building anything, he has really simplified the business model, and without anything being built, he is adding unmeasurable value to the economy.

[Megaterio Llamas]

[Meds]

The guy has the most punchable face on the planet.

[donlever]

Yet he's sleeping with Katy Perry.

What a world....

[Meds]

Yet he's sleeping with Katy Perry.

Katy without the makeup and filters…..

They could be brother and sister FFS.

[donlever]

[Topper]

I always thought, from the shoulders up, she looked like a dude.

Given her dating history, one could guess from the waist down she also looks like a dude.

[Carl Yagro]

Most men would kill for that Norwood 0

[Meds]

I always thought, from the shoulders up, she looked like a dude.

Given her dating history, one could guess from the waist down she also looks like a dude.

LMAO!