Monday, August 20, 2007

Cuz It's Always Better To Rent

Long after Michael Fortier has retired from the Senate, this boneheaded scheme to sell off prime real estate will be seen as Harper's true legacy. The government is essentially giving the buildings away by promising to stay in the buildings and paying rent. Sure we are getting some cash up front but by the time we have paid rent (and taxes and improvements!) for 25 years, how much of that cash will be left over? I suspect not much. So, we lose control of the buildings and pay the landlords back the purchase price in rent and other costs. Pretty sweet if you are the landlord. Pretty crappy if you are the taxpayers of Canada. Can you say "Canada's new 407"?
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