When real price discovery comes to an artificial bubble.....it’s painful. There must be a way to shift the pain to the taxpayer /sarc
The bubble wasn’t artificial. In 2019 there were hordes of people commuting downtown. Companies were moving in and there were lots of new developments building in the area. I know, I was there, working there everyday, as I had done for over 30 years.
Circumstances changed, however, effectively overnight. And the prolonged lockdown sealed it. This was governance malpractice on an enormous scale.
Since I’ve been abroad, for the most part, since early 2020, I can compare only with other countries. There has been nothing like this anywhere else.