this post was submitted on 19 Jun 2026
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B.C. development association cancels awards, citing 'worst housing market in decades' - UBC expert says it's 'almost impossible' to make money today on land bought around 2021 and 2022 (www.cbc.ca)
submitted 2 days ago by LimpRimble@lemmy.ca to c/britishcolumbia@lemmy.ca
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When development was booming a few years ago, interest rates were low, population growth was high, and so was market interest, he said. Since then, interest rates have risen and population growth has slowed, which has caused prices to fall dramatically.

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[–] BlameThePeacock@lemmy.ca 11 points 2 days ago

If the success of your development hinges on your land value going up, you aren't a developer you're a land speculator.

Just another example of why we need Land Value taxes.