Quote:
Originally Posted by stampsx2
You build wherever the demand is otherwise your just increasing values of existing homes. Economics 101.
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Not too long ago the market wanted to extend themselves with mortgages they couldn't possibly understand, never mind payback. The market also wanted to buy and sell mortgage backed securities at values that were miles away from recognizing the actual risk.
The market self implodes if left on its own. That is what Calgary development has done over the last few decades, and now we have a mess of a layout with absolutely massive property taxes increases hardwired for a long time.