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Tciso wrote: ↑Sat Jun 20, 2026 10:15 am

5thhorseman wrote: ↑Fri Jun 19, 2026 6:54 pm

Topper wrote: ↑Fri Jun 19, 2026 4:26 pm Carney will buy out unsold Vancouver condos to bale out the developers in a falling market.

No, taxpayers are not getting market value. This is a bale out to keep the developers from losses.

The article I read said they're just reducing development charges (DCCs). Talk of buying unsold condos was hinted at.

Are the charges being reduced, or is one level of government paying the charges of another government?

Charges are being reduced an estimated $40K per unit.

Metro Vancouver also cut DCCs in April by $387 million over the next three years and are looking recover those costs from the federal government.

What exactly are development charges? Is it just a tax grab by the cities?

I only ask because I have never encountered them. I bought a lot and build a house, all for $400 in permits.

Tciso wrote: ↑Sat Jun 20, 2026 2:35 pm What exactly are development charges? Is it just a tax grab by the cities?

I only ask because I have never encountered them. I bought a lot and build a house, all for $400 in permits.

It is to cover the expense for all the infrastructure that needs to either be a) updated or b) new. It is also used for other amenities such as parks etc.

Most cities have a bylaw on how it can be spent.

Also the shortage of revenue from the DCC have to be made up though property tax. This request from other forms of government just puts the burden on residents and businesses.

Most of the empty units are listed plus $1M, how do they become affordable housing?

Development cost decline is on a ten year time frame.

Would it not be better to cut red tape to create jobs so people can afford homes from what they earn instead of these government run wealth redistribution schemes?

Carney-Eby Slim Lord

One-third of the units are over $1M.

As of last month, there were 4,376 completed condos sitting empty in Metro Vancouver.

https://www.cbc.ca/news/canada/british- ... -9.7242851

Empty home tax?

Booms go bust. What became of the boom profits?

5thhorseman wrote: ↑Sun Jun 21, 2026 5:59 am One-third of the units are over $1M.

Yeah...most in the 800K to 1.2M range...plus GST and fees which adds many 10's of thousands to the final tag.

I dont pay much attention to but do ackowledge there are 1st time buyer programs that relieve the GST burden to some degree however.

Strata fees can be a killer these days as well with respect to overall monthly nut affordability.

5thhorseman wrote: ↑Sun Jun 21, 2026 5:59 am As of last month, there were 4,376 completed condos sitting empty in Metro Vancouver.

Discussed out in the universe is the fact that a ghost inventory exists that pushes the numbers in excess of 10K.

https://x.com/SteveSaretsky/status/1898 ... 57929?s=20

From March of 2025

or is it Government backed sub prime mortgages? Should we ask Fannie May and Feddie Mac?

If it moves, tax it.
If it still moves, tax it some more.
If it stops moving, subsidize it.

You don't need a Harvard Economics degree for this shit.

Newly appointed Supreme Court Justice looks like an interesting character.

I wonder how he'll get along with the Chief Justice? The guy who had an anonymous donor fund a bronze bust of him that sits outside the Court's Chambers by an anonymous artist at an undisclosed cost. The same guy who give a press briefing each year telling all that the Court should not be criticized.

https://www.msn.com/en-ca/news/world/be ... r-AA26hvvd

the msn site allows a backdoor into many paywalled news sites.

from X on the condo developer bailout

Capitalism without bankruptcy is like Christianity without hell.

Unfortunately bankruptcy affects not only the developer but contractors, subcontractors, lenders, buyers who placed a deposit, etc.

Topper wrote: ↑Tue Jun 23, 2026 12:14 pm Capitalism without bankruptcy is like Christianity without hell.

I like that line.

Or alternatively: if you get bailed out when you fail, you have no basis for complaining about getting taxed when you succeed.