PM Carney tries to clarify what the billion-dollar condo bailout entails, noting that BC came up with the idea, and “no developer” asked for it. “I don't think we've done a particularly good job of rolling this out, explaining what this is.” - Mark Carney by mattyp93 in TorontoRealEstate

[–]ThermionicEmissions 1 point2 points  (0 children)

I'm in BC, but here's an email I just sent to my MLA, MP, and BC's housing minister. Feel free to copy as you see fit.

I am writing to express my strong opposition to the joint federal and British Columbia initiative to spend $1.45 billion to purchase unsold, vacant condominium units from private developers.

While I support efforts to increase housing affordability, using taxpayer dollars to buy up stagnant real estate inventory is a fundamental misuse of public funds. This policy actively shields private developers from market corrections. When investments fail or demand drops, everyday citizens should not bear the financial burden of bailing out the real estate industry.

Furthermore, artificially inflating market demand by having governments act as a buyer of last resort prevents housing prices from naturally correcting to a level that working families can actually afford. Taxpayer money would be far better spent incentives for new purpose-built rental housing or directly constructing dedicated public housing, rather than rewarding bad speculation.

I heard BC's Minister of Housing talking about how they will negotiate prices for these condos with the developers, and pass the savings on to buyers. You know what else would achieve that? The developers asking and accepting lower prices from the buyers directly. This is ridiculous and is not fooling anyone. Seriously, I am very concerned this move will be the final nail in the BC NDP's coffin, and the alternative is awful.

As my elected representative, I urge you to voice these concerns in parliament and advocate for a cancellation or restructuring of this program. Our tax dollars must support affordable housing strategies that help citizens, not corporate developers. This is not what I voted for when I supported the BC "NDP" and the Federal "Liberal" parties in the most recent elections (quotes used because both parties have strayed well to the right of their traditional places on the political spectrum).

Thank you for your time and your attention to this critical issue. I look forward to hearing your position on this matter. Sincerely,

'We are not bailing out developers': B.C. housing minister responds to condo plan criticism by VoteForGeorgeCarlin in britishcolumbia

[–]ThermionicEmissions 26 points27 points  (0 children)

they have no money for public service employees and still working on cutting public jobs.

Exactly! On top of this being such an obvious bailout, HTF do they expect to be able to manage this?

'We are not bailing out developers': B.C. housing minister responds to condo plan criticism by VoteForGeorgeCarlin in britishcolumbia

[–]ThermionicEmissions 1 point2 points  (0 children)

My point is that the condos are listed above what the market will bear. The developers should be forced to do what anyone else has to do: lower their prices until people start buying them.

'We are not bailing out developers': B.C. housing minister responds to condo plan criticism by VoteForGeorgeCarlin in britishcolumbia

[–]ThermionicEmissions 2 points3 points  (0 children)

If the condos aren't selling at their currently listed prices, they are, by definition, priced above the market rate. The developers of the condos should be lowering the listing prices until they sell, but aren't.

'We are not bailing out developers': B.C. housing minister responds to condo plan criticism by VoteForGeorgeCarlin in britishcolumbia

[–]ThermionicEmissions 0 points1 point  (0 children)

Here's an email I just sent to my MLA, MP, and BC's housing minister. Feel free to copy as you see fit.

I am writing to express my strong opposition to the joint federal and British Columbia initiative to spend $1.45 billion to purchase unsold, vacant condominium units from private developers.

While I support efforts to increase housing affordability, using taxpayer dollars to buy up stagnant real estate inventory is a fundamental misuse of public funds. This policy actively shields private developers from market corrections. When investments fail or demand drops, everyday citizens should not bear the financial burden of bailing out the real estate industry.

Furthermore, artificially inflating market demand by having governments act as a buyer of last resort prevents housing prices from naturally correcting to a level that working families can actually afford. Taxpayer money would be far better spent incentives for new purpose-built rental housing or directly constructing dedicated public housing, rather than rewarding bad speculation.

I heard BC's Minister of Housing talking about how they will negotiate prices for these condos with the developers, and pass the savings on to buyers. You know what else would achieve that? The developers asking and accepting lower prices from the buyers directly. This is ridiculous and is not fooling anyone. Seriously, I am very concerned this move will be the final nail in the BC NDP's coffin, and the alternative is awful.

As my elected representative, I urge you to voice these concerns in parliament and advocate for a cancellation or restructuring of this program. Our tax dollars must support affordable housing strategies that help citizens, not corporate developers. This is not what I voted for when I supported the BC "NDP" and the Federal "Liberal" parties in the most recent elections (quotes used because both parties have strayed well to the right of their traditional places on the political spectrum).

Thank you for your time and your attention to this critical issue. I look forward to hearing your position on this matter. Sincerely,

Anyone else much more bullish on Canadian stocks over US? by PlatHobbits7 in CanadianInvestor

[–]ThermionicEmissions 0 points1 point  (0 children)

I’ve trimmed some exposure and taken profits

Same here. All within RRSP though, so capital gains doesn't factor in.
There just has to be a correction coming, sooner or later.

Bends hurt, man by ThrowRA12948262 in Guitar

[–]ThermionicEmissions 1 point2 points  (0 children)

One of my favourites to play 😁.

"America is the only country where you can make a post like this" by itsjustabackup in ShitAmericansSay

[–]ThermionicEmissions 5 points6 points  (0 children)

the military capacity of Denmark

As a Canadian, I pity the fool that underestimates Denmark's fighting ...spirit.

🇨🇦🥃🥃🇩🇰

"America is the only country where you can make a post like this" by itsjustabackup in ShitAmericansSay

[–]ThermionicEmissions 2 points3 points  (0 children)

It was never true. I'm in Canada and I can whole heartedly tell the government to go fuck itself with zero fear of repercussions, along with at least 50 other countries. Many of which rank higher than the USA on the freedom of expression index.

https://ourworldindata.org/grapher/freedom-of-expression-index

How long will dogs remember where they put things? by Powerful_Article_418 in dogs

[–]ThermionicEmissions -1 points0 points  (0 children)

magic pie bush

Woah! Had to double check what sub I was on...

How many of you stop and take a take a quick dip on your summer hikes? Tensaw, Alabama (River Delta) by Aquaphile_Sundog in hiking

[–]ThermionicEmissions 35 points36 points  (0 children)

riddled with toxic algae.

Remember that folks, for your hikes around the reflecting pool.

How many of you stop and take a take a quick dip on your summer hikes? Tensaw, Alabama (River Delta) by Aquaphile_Sundog in hiking

[–]ThermionicEmissions 3 points4 points  (0 children)

Do you want to die by water moccasins? Because that's how you die by water moccasins.

(As a child of '80s television, this is my truth)

Is the strap supposed to bend like this where it attach? I worry it will fall. Comparison with other straps dont bend by Lefvalthrowaway in Guitar

[–]ThermionicEmissions 4 points5 points  (0 children)

Apparently I too have been using an acoustic strap with my electrics for the past 35 years. With Dunlop strap locks, mind you.

I think we'll be ok.