Another pre-construction site has been damaged by fire in Langley, BC.

"Langley, BC, has once again fallen victim to the devastating consequences of pre-construction projects gone awry.

The latest incident, which saw a property go up in flames, is a stark reminder of the dangers that arise when appraisals fail and projects stall. This is not an isolated incident, as we've witnessed similar cases in the past where the collapse of appraisals has led to catastrophic outcomes, including fires.

The pattern is clear: when projects are unable to reach financial close, the risk of accidents and fires increases exponentially. This is a pressing concern for the community, as these incidents not only result in significant financial losses but also put lives at risk.

We urge developers and stakeholders to take immediate action to address the root causes of these failures and ensure that necessary measures are put in place to prevent such incidents from occurring in the future.

In light of this recent event, we'd like to request @JonFlynnREstats to update his list of similar incidents, providing valuable insights into the trend and highlighting the need for industry-wide reform."