@LcpVan@KahlonRav@gregorrobertson Then we don’t have to borrow for all the years of construction to pay them - which serves no public interest. And the impacts to infrastructure and community facilities do not start until people move in.
@michael_wiebe This is based on faulty assumptions of infinite zoned and serviced land available. In reality land is an inelastic good and will not absorb additional costs.
@michael_wiebe It’s an absurd position. The costs of housing inputs will never bring costs down to that low a price. He would also then have to prove that where housing is half the cost of Vancouver, everyone would own two homes.
@RyanJabs@MurdochOakBay@Ravikahlon Since the targets were given, oak bay has responded by massively increasing dccs, accs, and adding a punishing anti blasting bylaw.
@Sam_Robbins3@MikePMoffatt Financiers typically require 30% of costs are paid by equity and a minimum 15% profit margin to offset the major risks associated with the 70% debt.
@michael_wiebe The problem with Condon’s argument is it presumes endless land is available so land prices respond to small development cost changes. In reality the Inelasticity of land values in a highly regulated environment makes the argument untrue.
@LcpVan Master plans - it’s all in the servicing and access costs of phase 1 held against absorption rates of a promised neighbourhood before it exists.
I just watched a tweet of the trump assassination attempt. One tweet later was an advertisement for a company that builds personal safety bunkers. What is our world coming to!