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Buying a condo in the 90s...

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Financial Dystopia

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155,552 görüntüleme • 8 ay önce •via X (Twitter)

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Someone is looking to drop $1.3B into the Toronto pre-con market. If you do the math… that’s less than 1% of GTA condo supply. A Vancouver realtor says Ontario is spending $1.3B to bail out developers by buying unsold condos. That’s not what the announcement says. The province isn’t buying condos. A private fund is. Ontario’s Building Ontario Fund is providing up to $300M in financing, while High Art Capital is targeting about 2,200 units to convert into rentals. Even if every single unit came from the completed unsold inventory… That’s still under 1% of the GTA condo pipeline!! In other words: A drop in the bucket. Context matters.
2:36

Someone is looking to drop $1.3B into the Toronto pre-con market. If you do the math… that’s less than 1% of GTA condo supply. A Vancouver realtor says Ontario is spending $1.3B to bail out developers by buying unsold condos. That’s not what the announcement says. The province isn’t buying condos. A private fund is. Ontario’s Building Ontario Fund is providing up to $300M in financing, while High Art Capital is targeting about 2,200 units to convert into rentals. Even if every single unit came from the completed unsold inventory… That’s still under 1% of the GTA condo pipeline!! In other words: A drop in the bucket. Context matters.

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Mark Carney is spending your money buying 2200 condos in Vancouver. A condo bailout?! This is wrong for several reasons, but at the end of the day if you’re a young person looking to buy a house in Vancouver, Mark Carney just said loud and clear that he isn’t in it for you.
4:12

Mark Carney is spending your money buying 2200 condos in Vancouver. A condo bailout?! This is wrong for several reasons, but at the end of the day if you’re a young person looking to buy a house in Vancouver, Mark Carney just said loud and clear that he isn’t in it for you.

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BC Premier David Eby compares his $1.45 billion condo bailout plan—which he insists isn't a bailout—to buying tube socks on liquidation. PM Mark Carney appears to enjoy the analogy.
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The sun in a corner is soooo 90s ☀️
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