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isVeryLoud@lemmy.ca

Every developer has opted to pay Montreal instead of building affordable housing, under new bylaw (www.cbc.ca)

submitted 3 years ago by RandAlThor@lemmy.ca to c/montreal@lemmy.ca

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[–] ImplyingImplications@lemmy.ca 5 points 3 years ago (1 child)

Clearly they were hoping the developers would just build the affordable housing themselves. They have no idea what to do with this money

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[–] HubertManne@kbin.social 4 points 3 years ago (1 child)

I have always wondered why the cities themselves don't build highrises and sell the condos for the cost of construction. My city has even had times where there have been empty lots that have sat because no developer can figure out something to do with them. Just keep on plugging along until the rest of the market has to price for cost of construction.

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[+] cheery_coffee@lemmy.ca 3 points 3 years ago* (last edited 2 years ago) (1 child)

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[–] HubertManne@kbin.social 1 point 3 years ago

which would work until enough were built that there was no profit in flipping and if people realized that was the intention the ability to flip would go away much faster.

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