This is too funny. 😂
Reading the minutes of the investors that bought Hudson Bay company in 1863. They didn't want the business, but wanted the value of land - far in excess of the work being done on it.
In other words, Canadian real estate speculation pre-dates Canada.
Reading the minutes of the investors that bought Hudson Bay company in 1863. They didn't want the business, but wanted the value of land - far in excess of the work being done on it.
In other words, Canadian real estate speculation pre-dates Canada.
Less surprising, but still funny, is they argued private land ownership is beneficial, because it can be sold to immigrants to raise taxes.
The investment thesis for real estate never changed. Selling it to immigrants far exceed the value of productivity value.
The investment thesis for real estate never changed. Selling it to immigrants far exceed the value of productivity value.
"HBC was here for beaver pelts!"
No, HBC was here for beaver pelts, and the private equity firm that bought them in 1863 saw little value in pelts, but thought it was a good way to sell settler condos.
No, HBC was here for beaver pelts, and the private equity firm that bought them in 1863 saw little value in pelts, but thought it was a good way to sell settler condos.
Also, it's not weird I'm reading corporate minutes from 1863. You're weird.
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