Comment 39052

By Mor e roads (anonymous) | Posted March 23, 2010 at 16:23:54

The City of Hamilton should do what the government does when crop prices get too low, they should buy up the excess supply of land and take it off the market until land prices increase.

This would allow the city to maintain existing structures, while also sending a signal to investors that the downtown area is a place where you can make money. When investors (i.e. condo owners) know that downtown land prices will not fall after buying downtown, the whole area will be seen as a safer place to invest.

In time, as land prices rise, the city could either sell off some of its land holdings, or offer them up for 99 year leases. The way things stand today, the imbalance of supply and demand is keeping investors from doing exactly what we want them to do, invest.

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