Oh Flash, great pick on the Globe piece by Josh Gordan. He rightfully calls out Bob Rennie - the leading propagandist for the developer interests. That guy is the worst. He has literally made millions of dollars on this bubble - not only through aggressive marketing of condos, but by using his position to promulgate sheer BS on behalf of developers, and foreign buyers. His bit in "The Province" a few weeks ago was so obviously a marketed piece. He is a lobbyist, pure and simple.
I loved this quote in particular:
Quote:
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Don’t blame China, and don’t tax foreign ownership. But a speculation tax? That’s OK. “China buys $6 billion a year in British Columbia exports. Are we going to tamper with those jobs and our economy? … A foreign ownership tax of 10 per cent on a $5-million home will not stop a sale or create affordability … It will only cause racially charged conversations to go beyond where they are now.” Rennie says he still believes a speculation tax aimed at buyers who flip a home would cool the market at the lower end.
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When someone calls someone or oneself a "guru" of anything, you have to ask the question, "Who is benefiting from this perspective?"
http://www.theprovince.com/business/...028/story.html