The real source of the B.C. housing crisis: governments, taxes and bureaucracy [Globe and Mail, The (Toronto, Canada)]
Cabot Corporation (CBT)
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Source: Globe and Mail, The
Brent Sawchyn is chief executive officer of PC Urban Properties, a real estate development company based in Vancouver. Housing supply and affordability is one of the leading issues across Canada, and the situation is particularly dire in Vancouver. We all recognize this, particularly developers, who for the most part are trying to be part of the solution. Here's the foundation of the problem. With increasing development cost charges, property taxes, municipal charges, utility costs and GST on new rental buildings, developers typically spend at least 15 per cent to 20 per cent of our total project budget on these government-level taxes. And with all the red tape, we face a four- to six-year pathway to deliver much-needed rental housing. For all of that, municipalities and the provincial and federal governments pay lip service to do more to help, but in reality, their various policies don't do much more than increase their own revenue. Governments need to step up. Developers can'
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News
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- Cabot Co. (NYSE: CBT) was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating.MarketBeat
- BNN Bloomberg Picks [BNN Bloomberg (Canada)]BNN Bloomberg
CBT
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- 2/5/24 - Beat
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- 4/1/24 - Form 4
- 4/1/24 - Form 4
- 4/1/24 - Form 4
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