They don’t understand a basic premise of increasing condo and townhouse supply.  These projects can’t get construction loans without presales. Some in the media, government and public think that a crash in presales is good news on the affordable housing front.  Clueless.

It used to be most Canadians were concerned when people lost their jobs through no fault of their own. Workers in the oil sector who have lost their jobs don’t rate a mention by anti-oil politicians and activists. The real estate sector tanks taking thousands of jobs with it and few seem to care.

In Berlin they had to put up a wall to keep people in while over 77,000 have died trying to flee Cuba – 4 million have fled Socialist Venezuela. Meanwhile this year over a million migrants will face hardship and danger trying to get into capitalist US.

It’s a straightforward lesson that the political class refuses to acknowledge – a tax increase always has an impact. And it’s never just one increase – there’s a lot of them from BC’s new health tax, to carbon taxes, to property taxes to higher Canada Pension Plan Premiums.