British Columbia

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B.C. development association cancels awards, citing 'worst housing market in decades' - UBC expert says it's 'almost impossible' to make money today on land bought around 2021 and 2022 (www.cbc.ca)

submitted 6 days ago by LimpRimble@lemmy.ca to c/britishcolumbia@lemmy.ca

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When development was booming a few years ago, interest rates were low, population growth was high, and so was market interest, he said. Since then, interest rates have risen and population growth has slowed, which has caused prices to fall dramatically.

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[–] Ulrich_the_Old@lemmy.ca 1 points 3 days ago

Housing like everything else essential should be provided by the government at the lowest possible cost. Nobody should be making a profit from essentials.

[–] BlameThePeacock@lemmy.ca 12 points 6 days ago

If the success of your development hinges on your land value going up, you aren't a developer you're a land speculator.

Just another example of why we need Land Value taxes.

[–] snoons@lemmy.ca 4 points 6 days ago

The world tiniest violi-- oh wait, it's not even there.

[–] Smaile@lemmy.ca 3 points 6 days ago

damn, your awards show said "YOU ALL SUCK THIS YEAR GO HOME!"