So much for free enterprise. Funny how everyone becomes a socialist when times get tough.Some developers are looking to cities or the province for help.
Shayne Ramsay, chief executive officer of BC Housing, said the organization is getting dozens of calls from developers wanting to know if the province is interested in their sites for rental projects.
Mr. Ramsay said it's not something the province has done in the past, but Housing Minister Rich Coleman has made rental-housing development a priority.
"I think it's one of the big untapped markets," Mr. Ramsay said.
Sounds like the builders are getting desperate.
Not just the builders. I'm wondering if we're going to be seeing more spam like this in the coming months....I want to provide you some information about Alabama Condos.Alabama is often called the heart of Southern United State. A large number of cultural venues make it a preferred destination for many. Though most of the people come here for vacation, some invest in a condo as a second home. Huntsville is the capital city of Alabama, which has Space and Rocket Centre as main attractions. The city is full of enigmatic aura and charm and there are a lot of lakes, gardens and parks. The city offers various exciting adventures like rock climbing, hunting, fishing and many more. This makes Alabama a hot destination for real estate investments.
Must be a different 'Vancouver' from that being discussed on other threads.VANCOUVER...
Major developers say they are looking at ways to make rental work, in order to keep their companies in gear at a time when it appears that no one is willing to buy...
"The public is just scared to death," said Ward McAllister of Ledingham McAllister, which has 22 condo projects under construction.
If market rent can justify the cost of building rental apartments, private developers will build them. The government subsidies only apply to low income renters, and not everyone wants to live in a social housing complex. Just like price of condos can go way above the price of rental apartments, it can potentially go way below the price of rental units as well. In the long run, they should converge, but short term disparities do happen, and developers are behaving as expected to help the convergence happen.One question I have, if you'll pardon my ignorance, but what incentive is there for private developers or even small operators to jump into providing rental housing at low or moderate levels,even if housing prices come down, if the government will be subsidizing competitors who build other larger low income rental housing?