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Anyone know what's causing the backlog? I remember it went down because of a system transition a few years back, but I don't know what could have changes besides a demand spike.
 
Volume, antiquated system (although improvements have been made).
The GOA's list of old ass systems that need replaced is getting pretty long. The capital requirement to replace them must be pretty similar to the capital gap that the COE requires for buildings.
 
Time to play catch up and really work to add some infill density before the market softens.

Calgary is/was building what, 3x multi-fam to ours?
IMO we've kept a tight tail on housing demand. We need to diversify the non-residential tax base if we want to keep the existing homes affordable.

The problem is that lowering the mill rate would shuffle the residential taxes higher, which is also sub-optimal.
 

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