New accommodations facility at CFB Esquimalt and plan to build more homes on military bases

[childs56]

Sounds to me like they should have been denied.

Making a poor investment (i.e. paying too much for a rental property and mortgage) doesn’t mean you should be allowed to price gouge your way out of it.

That is one way to look at it. The other way is intrest rates have gone through the roof why is it acceptable for the owner to take the loss?
Cost of renting that property would be x amount of dollars based on cost to borrow the money. Expecting the owner to take a loss is not in the best intrest of all involved either.

When they bought the property they should have known what the rent was. They should have done a cost/profit risk analysis to see if it was worth it. If they can’t afford it they can sell to someone else who can, even if it means they take a loss, thats how it goes. Nothing says in business you should always be making a profit.

From reading the article the intrest rate hiked significantly and the cost was reasonably passed onto the customer.(consumer)
The home owner nor the renters can control the costs associated with inflation. The government sure can and they don't.

Poor arbitration decision, that could have negative impacts on all sorts of renters.

I disagree, it was an unfortunate outcome for the renter. But the cost is the cost and it was an unreasonable intrest rate (again governments control these) that caused the significant increase.
Expecting the land owner to absorb those costs is unreasonable.

 

[Booter]

Not so long ago, they issued a contract to refurbish the Seaforth Armoury. Apparently they neglected to included any telecommunications installation into that contract. The Seaforth's were delayed moving back into, till a contract could be issued and completed to install working telecommunications.

Is this a heritage building issue? Like you’re allowed to repair the building but implementing new tech or expanded capacity is an issue.

I’m in the car but I feel like this was an issue in updating the messes in heritage buildings for PRES when I was still an officer.

So you keep certain contracts really sharp because it’s such an ordeal to get a….fax line

 

[Furniture]

That is one way to look at it. The other way is intrest rates have gone through the roof why is it acceptable for the owner to take the loss?
Cost of renting that property would be x amount of dollars based on cost to borrow the money. Expecting the owner to take a loss is not in the best intrest of all involved either.

From reading the article the intrest rate hiked significantly and the cost was reasonably passed onto the customer.(consumer)
The home owner nor the renters can control the costs associated with inflation. The government sure can and they don't.

I disagree, it was an unfortunate outcome for the renter. But the cost is the cost and it was an unreasonable intrest rate (again governments control these) that caused the significant increase.
Expecting the land owner to absorb those costs is unreasonable.

27%... Interest didn't go up that much, so there was a lot of poor planning that lead to a rate hike that high to keep the owners head above water.

 

[childs56]

27%... Interest didn't go up that much, so there was a lot of poor planning that lead to a rate hike that high to keep the owners head above water.

I have co workers and friends whose mortgages payments doubled over the last couple years.
It's possible

 

[Quirky]

Oh, I’ll go!

Because the health care system in Manitoba couldn’t take the strain?

How about Moosomin?

Town near Manitoba-Saskatchewan border offering $30K to new residents - Winnipeg | Globalnews.ca

A small town just west of the Manitoba-Saskatchewan border is looking for new residents, and according to the mayor, they're willing to make it worth your while.

globalnews.ca

15 doctors apparently.

 

[dapaterson]

I have co workers and friends whose mortgages payments doubled over the last couple years.
It's possible

They accepted the risk of rates changing rather than locking in.

 

[Colin Parkinson]

Is this a heritage building issue? Like you’re allowed to repair the building but implementing new tech or expanded capacity is an issue.

I’m in the car but I feel like this was an issue in updating the messes in heritage buildings for PRES when I was still an officer.

So you keep certain contracts really sharp because it’s such an ordeal to get a….fax line

More of a case of totally neglecting to contract for the reinstall of all the phone and internet lines back into the building. thereby making it "unsafe" to occupy for another 6 months.

 

[suffolkowner]

They accepted the risk of rates changing rather than locking in.

5 yrs new rate no matter what. 2025 and 2026 will be worse probably

 

[Fabius]

They accepted the risk of rates changing rather than locking in.

And if the costs of providing a service or product increase businesses generally increase the cost to consumers for those services and products.