Geniuses killed the bond market and forced houses to act in its place. Most people will never understand how government’s greed to issue debt to buy their friends shiny things resulted in this crisis.

I have a friend that runs a sales team that was in a similar situation. They had to sell the building for a fixed price by a certain date, and got a bonus if they sold it within a certain number of days. Developers pay trash for agents though, so they offered a fixed unit rate and a percent of units they can buy or sell at a discount.

A lot of them are bought strictly to flip as well, with no occupant, hoping to cash in on putting 5% down and having the equity rise enough that they don’t. This is what Adam Vaughan was worrying about when he said “new home buyers.” The buyers that never plan on having the full payment, and flipping before completion — including a lot of real estate agents that become the exclusive project sales team.

Correct, but it needs to keep building or it WILL have a lack of housing, which is an equally important issue.

Canada doesn’t have a lack of housing. It has a lack of reason to use housing, because it’s more profitable to keep it empty.

Raise property taxes already, so it’s inefficient to waste land.