Quote:
Originally Posted by someone123
Yes, it's the tax structure that's the problem. It was created as if land and property were some abstract investment when it isn't.
At this point, who knows what will happen with this proposal? There is a lot of uncertainty but I still don't think the situation is like it was around 1990, for example, when the local market was much worse and much more overbuilt (for office).
|
True, the situation is different in the sense we are not overbuilt in the office market (less then 4% vacancy). The problem this time is the much needed money to fund these projects don't exist, therefore could create a totally different effect.
Hopefully Joe can find a way through.