RE:RE:RE:RE:RE:RE:RE:Playing devils advocate on this "undervalued" nameI dont disagree that the political situatuion in Ontario right now is favourable, but also would add that the housing affordability/supply issues will face any political party going forward. Municipality budgets are also drunk on housing tax revenues (property taxes and DCs) and over a long enough timeframe will need growth in those tax dollars through opening up more development land.
IMO this is a land bank with interim income play. As a great capital allocator Rai looks at reinvestment rates of return and will be as efficient as possible in cap ex spend and as Undervalue states, spending big on a non-highest and best use (golf) doesnt make sense.