Jake Silverman

There are, at least in my market, adequate opportunities for the private sector to capture some of this.

The private sector is elected not to because the most likely purchasers for this are very afraid of the asset class.

You can't price it for enough people to become a market maker, to take back the marginal buyer control from the government, let's say in this situation, to liquidate all of these properties.

Yeah, well, I mean, he's got the macro dialed.

I haven't figured that one out yet.

But yeah, I mean, we got a good data environment in the GTA.

So it makes it easier to be a real estate nerd where I am, I think.

Thank you.

Yeah.

I mean, I'll take the pat on the back, I guess.

But yeah, it's not one of those things that I take pleasure in saying, I told you so.

Also, I think a lot of people thought I was advocating for this.

I know how the government works in this country, and I figured it was going to be a necessary thing and the most likely path that they were going to take.

What would you call it?

If they're buying them with the objective of preventing a loss for the builder, then yes.

But the housing minister came out yesterday with a tweet saying that their intention is to purchase them well below...

market value, and if they're purchasing below market value, then the builder would just be realizing the loss in a different format and probably a different timeline.

And that might be just expediting market forces.

I would say that's still not an appropriate intervention from a government.

I want the government less involved in housing, not more involved in housing.