„Bauträger wollen nicht mit Verlust verkaufen“: Premierminister Carney über die Rettungsaktion für Eigentumswohnungen in Vancouver

So we can afford to bailout rich developers, and subsidize their losses, (antithetical to a free market,) but we also have to cut support for refugees?

„Welp that’s the risk of business man.“

Every single small business that has gone under had that told to them in their insolvency meeting…

We’re told there’s no money for healthcare, education or other public services, so budgets for everything must be cut left and right. But when private developers made bad business decisions, suddenly the government has billions to freely give away. Funny how that works.

How much loss? Are they opening their books to confirm?

What about purchasing the units at-cost?

Will we know the formulas? Or get to see what „break even“ looks like?

If there’s bulk or block purchasing of units is there a wholesale deal?

Ultimately, what’s being paid for, how much does it cost, and what will they be offered to people who need it for?

There was a CBC interview with the head of Ontario something other for housing who said it’s actually CHEAPER to build larger units because the kitchen appliances and electrification costs are reduced. Which does make sense. More empty space, less stoves, fridges, pipes and circuits etc.

So if it really is these tiny condos were made as investment vehicles, as commodities, then that makes bailing them out look so much worse.

So again, at cost? Will they be offered to people who need it for how much?

This just looks like bending over backwards powerlessly and if developers refuse to sell unless they make a profit, what message does that send?

Privatizing public this or that because you’re low on money, pumping immigration rates to appease Chambers of Commerce lobbies, blanket rezoning and finger wagging at local governments who have only two ways of raising money for infrastructure, while chronically underfunding social and health services when its the cities who feel that neglect most on its streets, then when developers overbuild their commodity and refuse to sell at a loss, what word other than „bail“ applies?

Wow, Carney. An argument could perhaps be made in favour of the bailout, but you gotta phrase it in terms of benefit for the people. If your argument is „Won’t someone think of the poor developers?“, well, that’s on par with Trudeau’s „I don’t think about the economy“. This also confirms that the government isn’t buying these condos at a reduced rate in bulk.

I can’t believe I’m saying this, but I’m starting to think Avi Lewis might have a shot in the next election.

Well I’m so glad our good guy government have these rich developers best interests in mind! Now they can all line up to get bailed out! So happy for them! Meanwhile young Canadians can’t find a job and the average Canadian can barely afford groceries. Anyways….

So does this mean that all those landlords or homeowners who bought their houses at a high price during the pandemic will also get a bailout?