Years of off shore murky capital inflated the Canadian housing mkt.
The unsold Condos are accumulating and threaten the whole mkt.
Nothing was done at the time. It’s now time to let the mkt fall to the level that the average Canadian can afford to buy.

It’s out in the open now

The announcement of the developer bailout in Vancouver, by Carnage, is an attempt to prevent the collapse of the Cdn banking system and a bailout to his wealthy RE developer donators. My local Bank Branch Manager knew this was going to happen. Probably keeps him up at night.

Based upon Vancouver Family incomes, RE prices need to drop 20-30% from this level. That would produce a built in Canada Financial crisis similar to the one in the US starting in 2008. Carnage is not stupid or unaware of what occurred the past 15 years in Canada.

Not much is selling and the inventory is growing. If this blows up, no developer will build homes in these mkts and Carnage’s promise of building xxxxxxx homes a year is gone. He’s finally caught and the average Joe should see what has happened. How will the legacy media spin this?