Quote:
Originally Posted by 68style
^ That project was laughable from the start, whole towers built on the idea that super rich people will buy tiny condos and no parking because they won't want to drive with the Canada Line right outside and a fleet of Bentley's that can be signed out and operated/maintained by the strata. They think this is Singapore or Zurich or something?
What could possibly go wrong? Mind bogglingly stupid decisions.
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Exactly. We're not Singapore, Zurich, or London. We never will be.
And Westbank heavily marketed the Oakridge project in Asia, I believe there was an article a couple of years back where they got backlash for it. The reality is, the Chinese money that fuelled our insane real estate market is all but gone. So where does the money come from now to invest in our overpriced RE bubble? Not many options out there.
Rennie is already pushing Carney to ditch the foreign buyers tax and come up with a plan with help from the Canadian government to woo investors by offering them rental properties. Good luck with that in the current economic shitshow.