Quote:
Originally Posted by lrt's friend
In a way, you are proving my point. It is only the construction of condos that is booming downtown. Obviously, this is the most profitable use of scarce downtown land at the present time. I am not saying this is a bad thing. You do say that office vacancies are up, which proves that the commercial sector cannot afford downtown space and likewise retail. Yes, the Rideau Centre is expanding but this project has been delayed by a number of years, while there are retail issues pretty well everywhere else downtown especially on Sparks Street as has been discussed at length.
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Sorry, that's not how economics works.
If vacancies are going up, prices will come down. OR, if there REALLY is only a market for condos, then conversions would be happening. That's not happening.
More downtown condos did not cause this theatre to close, directly, indirectly or tangentially through any rational economic thinking.
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