Comments on: Minister Burch Updates On Affordable Housing

By: Hilarious

Hilarious — Sat, 28 Sep 2024 13:19:07 +0000

Well said. Where are the Ministers lined up with their checkbooks, ready to invest their money?

I would add that given the state of Bermuda, the Government has no idea how to govern, just how to get elected using the same old tired playbook.

Lastly, “affordable housing” in Bermuda is like jumbo shrimp, bureaucratic efficiency, civil servants, friendly fire, deafening silence, honest thief, minor crisis….

By: Question

Question — Sat, 28 Sep 2024 08:45:50 +0000

I agree, but the amount already “invested” in this is far higher than $100m, particularly when interest costs on the borrowed government money are factored in.
It’s just another wasteful government employment scheme. It’s the equivalent of paying people to dig holes and fill them back in again.

By: Triangle Drifter

Triangle Drifter — Sat, 28 Sep 2024 02:14:42 +0000

Almost a decade ago the PLP chased perhaps thousands of foreign IB people out of here, leaving hundreds of apartments and houses empty.

Since 2017 perhaps a thousand Bermudians have been chased out by the PLP leaving even more apartments empty.

Maybe the Minister can explain why there is a shortage?

Is it Rent Control? Is it no landlord support against undesirable tenants in court? Is it the number of undesirable tenants? Is it Airbnb? Is it fed up landlords?

What is it Minister?

By: Joe Bloggs

Joe Bloggs — Fri, 27 Sep 2024 17:43:44 +0000

Investing $90 to $100 million in order obtain a sale price of $50 million is exactly why I object to the Bermuda Government seeking to engage in profit making. Government has no experience in commercial project development and should not waste our money trying to engage in it. Leave commercial project development to those willing to risk their own money. That is how capitalism works.

By: Ringmaster

Ringmaster — Fri, 27 Sep 2024 17:15:17 +0000

Grand Atlantic had been furnished to an acceptable standard to allow them to be used as a reasonably priced vacation venue. But no, Burch rips all that out, spends another $50 million or so to get to where we are now. Unfinished, unused, too expensive to have as vacation units, and probably unsellable. Won’t be long before that also becomes derelict and vacant, in time to spend another $100 million to rinse and repeat.

By: Joe Bloggs

Joe Bloggs — Fri, 27 Sep 2024 16:04:16 +0000

“66 vacant & derelict”

Why is that? Why have those units been allowed to deteriorate to such an extent?

What about the Grand Atlantic units? We know that they didn’t sell, but for all the money we have sunk into them they could be doing something!