Canada is building a high speed railway from Toronto to Quebec City. Alto (the company in charge) recently announced its land acquisition plans. The project is expected to cost between 60 and 90 billion.
It's pretty clear that real estate is lower now than a few years ago. Certainly, more efforts could have been made by the feds to prop prices up. Is it possible Carney has allowed property values to fall, as it would lower their land-acquisition costs?
This isn't meant as a criticism or moral judgement. This could all be coincidental of course. But obviously if Alto had to buy in at 2022 prices, not only would be in position to pay more for the land they are buying, but they would also likely be facing far angrier landowners who don't want to sell given the FOMO around real estate at the time.