Poilievre asks Parliament to probe B.C. ‘condo bailout’ blocking ‘a price correction’ Poilievre wants condo probe Conservative Leader Pierre Poilievre is calling on Parliament to probe Ottawa’s proposal to convert unsold condominium units in British Columbia into affordable housing. In a letter to the House ethics committee, Poilievre says a program to possibly help finance the purchase of 2,200 vacant condos amounts to a “condo bailout” for developers, bankers and investors. Prime Minister Mark Carney says the idea is to support Canadians needing housing, but
Poilievre says the Liberals are intervening in the market to help developers who built too many condos that didn’t fit demand. Carney has said his government did not explain the program well when he announced it on June 19, saying it is part of the B.C. government’s plans to to help homebuyers struggling to save for a down payment. Poilievre says the proposal will instead prop up high prices as it “prevents a price correction from taking place,” and he argues there are inconsistencies in
how the project came about. Housing Minister Gregor Robertson’s office did not have an immediate comment on the letter, which was sent to the Conservative who chairs the committee, which has a majority Liberal membership.
Pierre Poilievre, Parliament, House ethics committee, British Columbia, condo bailout, Mark Carney, Gregor Robertson, affordable housing, down payment, June 19, 2,200 vacant condos
So who’s actually getting the affordable housing??
I swear every time they “help” it turns into a bailout for someone with money. If these condos are vacant maybe… they should just lower the price.
Wait, Carney says it’s to support Canadians, but Poilievre says it blocks a price correction. Aren’t those the same thing though? Like if you buy the empty condos for affordable housing, that kinda fixes the prices, no?
This is why nothing gets explained right. First they announce on June 19, then “didn’t explain it well,” now it’s a probe?? Also 2,200 vacant condos sounds like a lot but maybe they’re only vacant cause people don’t want condos in general? Idk. Liberals always intervening in markets, Conservatives always crying bailout… probably both.