[0:00]We just don't see those units as livable.
[0:13]Hey, we all talk about how bad the price destruction is, the value destruction is in the dog crate condos, okay? It doesn't matter where it is, whether it's in Vancouver, Toronto, wherever, and by the way, um, it looks like the Calgary condos are dog crate condos are just getting wrecked too. But what's really interesting is, and I talk about it a bit, but I don't talk about it all the time. Just how horribly built and designed these condos are. I mean, let me tell you just how bad it is. Like, and you know, the question we got to ask is, the government likes to stick its nose in everything these days, right? Why did the city of Toronto, the city of Vancouver, why did these provinces and cities just say it's fine to build the worst piece of shit place to live that you could imagine, okay? Like just horrible layouts. The one, the one that opened with no garbage shoot. If you're on the 25th floor and you got to hold the stinking rotting garbage in your hands, when you take an elevator, there's not, there's not enough elevators of, down to a place you can throw the garbage out, okay? Like it's, it's insane. It's just insane, but it gets approved. It gets approved. And for the one single time that city governments, if you ask them, why did you approve these horrible layouts? Why did you approve these shotty units? Why did you do this? They will always say, oh, well, we, we let Free Enterprise do what it wants. But fuck no, not about anything else. About everything else you want to interfere with, what kind of heating you're using, what kind of we, we're going to give change all these building codes so that it's totally different and much harder to work with it. We're going to need 25 studies before we'll ever allow you to start to build something. You like cities and provinces like to interfere with a whole shit ton, but when somebody wants to build the worst place to live in the world, they don't give a fuck. But you don't have to believe me. Let me tell you about this wild one that happened last week. There is, and we talked about it before, there's a, there's groups of companies that companies that have developed and organizations that have developed to buy up condos in bulk. The condos that can't sell, the condos that the developers stuck with, okay? They're big. They're, one of them, one of them going to run a big exposé on, but the other one is, is I don't have a problem with it. Is a company called Justa Group. Justa Group, Justa Group out of Montreal. And they're committed to buying $500 million worth of the stress condos, condos that the developer wants to get rid of, all right? But what's really, really interesting to me, and I I was shocked when I read it, was that the managing, the general manager of Justa, gentlemen by the name of Anthony O'Brien, he said something really, really fucking interesting about the condos in Toronto. He said, Justa will not purchase any unit with an interior bedroom with a glass wall that looks into the rest of the unit. Like the fishbowl bedroom, the the hallway, or or you enter through the bedroom or look. I'm not putting words in his mouth, but they won't buy that unit. You know, and the final statement he made was, we just don't see those units as livable. We don't see them as livable. In other words, there's something that isn't a front to normal humans want to live in a rental space. Because that's why they're buying the condos. They're buying the condos to rent them out, maybe just to break even, and eventually years from now when the condo value rises, they can sell them and make a profit. I mean, I think I'm pretty I'm pretty damn sure that's the reason. I'm very sure, okay? So, this is a, this is an organization that's committed to buying half a billion dollars worth of dog crate condos, or maybe they're they're going to buy better than dog crates, just, you know, dog kennel condos, or whatever. They're going to buy better condos, okay? But they stop and say, look, one of the problems with these condos is they're unlivable. When he says unlivable, he's also referencing the idea that not only would no one want to own them, no one would really want to rent them. They are unlivable, okay? Holy fuck, wouldn't it have been nice if the city of Toronto or the province or somebody gave it some fucking thought 10, 12 years ago when they started approving all these fucking pieces of shit condos? Wouldn't it have been, oh, uh, yes, I see this condo is 385 square feet. What, okay? What, 385 square feet? Oh, oh, and I see the layout. I I don't even understand what this place is. It seems to be a bowling alley with a bit of kitchenette attached to it. Like what is it really? No one asks those questions. No one gives a fuck. Because the altar, the the high altar, the religion of density. Oh, well, 385. Well, that that makes things a lot more dense. 385 square foot condo makes things a lot more dense. Yeah, that's a good idea. Fuck no, not a good idea. Shit idea. Horrible idea. But but but listen, but listen. There's going to be a whole ton of people saying, and there'll even be comments, comments on this video that will say, oh, Ron, you're crazy. You're crazy. People in Europe have been living in tiny apartments for years. In in the Asia, you know, like Hong Kong, there's even like a tube apartment. There's what you don't, you just sort of rent it by the night and you just slither into a tube, shut the door on the tube, and you lie there and sleep that night, okay? And you know, there's a communal bathroom and everything. Yeah, no, really, Ron. I mean, you, you know, you just don't have the right attitude. You're just a stupid old boomer who thinks that everybody needs a 3,000 square foot house. Well, the correct answer is fuck no, I don't think so. I think that really the new homes we should be building, if we build single family homes, we should build fairly dense 1,400 square foot family homes. Like, but there's a thousand reasons why we don't. That's another day. But wait a second. Like, why are we looking at a tube motel or a tube tube rental or the tiniest room rental is the example of what people will will put up with in another country?
[7:29]Fuck that, okay? Like, we have one rational man. Thank you, Anthony O'Brien at Justa Group. Thank you for saying, we just don't see that as livable. That piece of shit condo with this horrible layout, we don't see it as livable. And yet, the planning department of the city of Toronto thought it was just fucking fine. City of Toronto, shame on you.
