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BC NDP leader David Eby vows to implement a 2% "empty condo tax" on units left unsold for over a year: "Just 10 developers have over $2 billion of condos that they refuse to sell at a reasonable price ... You will sell those condos, or you will pay... show more

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132,344 views • 5 days ago •via X (Twitter)

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31 Comments

🇨🇦🍁Alex 🐶🐴5 days ago

This would only force developers not to build more in BC

NightShift5 days ago

BC has the fastest declining population in Canada. People are leaving in droves….

CBC 🇨🇦5 days ago

@JarrydJaeger Is he going to make the indigenous groups rent their empty condos at a discount too? Very doubtful This will be yet another broken promise.

Cordova Bay5 days ago

Oh my. This is scary policy that hits a slowing real estate market. Damn. Small developers get hit with this policy too

BigBigBilly5 days ago

so you are expecting the developer to sell their brand new units for a loss? 33% of BC's developing cost goes to the government. Why didn't your government lower the building permit related processing cost by improving your employees productivity and reducing our tax money waste! @bcndp

A Conservative Environmentalist5 days ago

Oh great! Punish them for losing money. A strategy that only " radical leftist" will appreciate

MapleMAGA 🇨🇦🇺🇸5 days ago

Yeah because he’s partnering with Carney to buy them with our money ! You can make this stuff up…

LeeisShit5 days ago

Chase out investors? Smart moves, making Vancouver more of a shithole than ever before.

Amor De Cosmos5 days ago

The solution is to just not build until you can build at a guaranteed profit. Hard to do when you are competing with subsidized rental building. Prayers for the building trades.

Eric5 days ago

All those boomers hoarding equity in their homes! Need to tax that too that surely will help!

Lorne Victor🌴🌴✝️♦️5 days ago

Sounds like socialism to me.

Mike Benter5 days ago

That's just another way to make BC less attractive to companies building homes. Does he not realize that companies building homes create jobs?

Richard Ross5 days ago

Wow. This guy is nuts. What a way to kill the new condo construction industry. What developer wants to risk building only to end up taxed because of a change in market. This guy must not win reelection

Anthony Bordignon5 days ago

Kills investment with native land grab fear and now taxes the problem. Eby is pathetic. Hes going to collapse bc economy. Chasing away investment wow

Bryan Young5 days ago

I will decide when to sell my condo not the govt

Chad Graham5 days ago

Wow way to encourage developers to keep building in bc !!!! You might not be the dumbest politician in the world but man hopefully nothing happens to the dumbest politician in the world

allan martens5 days ago

It takes 2 yrs to get a permit to build in Vancouver - who on earth can afford to build in this bureaucratic nightmare of a province ? its taxes and red tape - the only thing that socialists like Eby can contribute

akcdaisy5 days ago

The NDP forced the cities to change zoning to increase density. The result is thousands of shoe box condos in the sky that people don't want and can't afford. Now Eby wants to force the developers the sell or he will punish them with additional taxes. Idiot.

Construction Craig5 days ago

Anti development idiot. What a joke this guy is. Developers are trying to sell at a loss. The cost of development has sky rocketed due to inflation

Diarmuid D. O'Dea5 days ago

This cannot be legal. Eby is an Ontarian who recently moved to BC and was essentially appointed Premier. And now he is criticizing a party/movement because it has vigorous debate and open leadership contests.

Canadian595 days ago

They don't need to sell them Carnage Carney just bailed them out for billions.

Scorpchikk🇨🇦✌🏻5 days ago

But most of those condos are not for families. They are Shoe Box condos for single struggling people who count even afford to rent them.

Rob Won5 days ago

wow, BC Gov already have a hard time collecting empty home tax, now try to collect taxes from bankrupt developers.

boozefuelledtrader5 days ago

The result of this policy will be for developers to build fewer new homes. Why take the risk of building multiple new developments if you are going to get taxed on unsold units? Yet another blow to the construction industry that is already on life support in BC.

Vanox5 days ago

Building trades should go up in smoke with this one. Who in their right mind would build in BC when more risk is added which inflates costs and required return. This place will be absolute crickets under this plan as far as any future builds..... So poorly thought through

Professor Iratus Genium5 days ago

The real estate market is frozen because of the legal and political uncertainty under Eby and the NDP. Especially around title and home ownership rights. He's created an unprecedented situation. And he wants to frame this sad state of affairs as greedy developers refusing to sell? In what reality does anyone actually believe that people who plan, design, build and sell homes ... would refuse to sell "at a reasonable price"? What's a "reasonable price"? Is he demanding that these companies sell at a loss and go bankrupt? Is that the way he plans to increase housing stock? By bankrupting industry players? 🤯

Pedro Navaja5 days ago

Look at those 2 bobble heads behind him!🤡 More fucking taxes is going to fix these issues, eh?! Unfuckingbelievable!!!🤬🤬🤬

Dividend Alex5 days ago

Kiss construction jobs goodbye

Dapperboy5 days ago

God bless BC! NDP never wants to solve our economic issues. They are killing our real estate industry!

Chad Sterling III 🏛️5 days ago

No wonder why every business has left BC. Now nobody wants to build anymore!

Plumeria845 days ago

What an utter idiot he is. The real estate market is soft right now. People can’t afford the mortgages at the higher interest rates! I even had a tough time renewing & I’ve been at my job for 34 yrs & make a decent wage…

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Ten developers are hoarding more than $2 billion worth of finished condos while families flip through listings wondering why they can't afford a place to live. Not anymore. Sell them within a year, or pay the tax.

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Canadians are becoming the backstop to the condo market in Vancouver with over 2200 unsold condos on the market with developers refusing to sell at a loss with ~4000+ vacant condos on the market. The Canadian tax payer is about to get bent over. But, elbows up right? $3.B later and counting…

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Joel Hodlman

25,629 views • 3 months ago

Carney government will buy vacant condos: "...developers are stuck. They don't want to sell at a loss. They can't afford to hold those empty units indefinitely." Why should Canadian taxpayers bail out developers who made bad business decisions?

Carney government will buy vacant condos: "...developers are stuck. They don't want to sell at a loss. They can't afford to hold those empty units indefinitely." Why should Canadian taxpayers bail out developers who made bad business decisions?

Riley Donovan

101,691 views • 3 months ago

🇨🇦💳🏘️ 🤡: BC Premier David Eby promises taxpayers will not be on the hook for the cost of the government purchasing empty condos. 🤡 Eby claims the value of the condos offset the cost to taxpayers. Eby economics in all its glory. 🤨 Eby claims people will have a path to condo ownership, without needing a down payment. 🤷 What happens if the condos get trashed by low-income renters? 🗑️ We have already seen the destruction of SRO units, tiny homes & motels converted to no / low barrier housing. 🔥 In fact numerous motels have been razed to the ground in just a few years, that were repurposed for affordable housing.

🇨🇦💳🏘️ 🤡: BC Premier David Eby promises taxpayers will not be on the hook for the cost of the government purchasing empty condos. 🤡 Eby claims the value of the condos offset the cost to taxpayers. Eby economics in all its glory. 🤨 Eby claims people will have a path to condo ownership, without needing a down payment. 🤷 What happens if the condos get trashed by low-income renters? 🗑️ We have already seen the destruction of SRO units, tiny homes & motels converted to no / low barrier housing. 🔥 In fact numerous motels have been razed to the ground in just a few years, that were repurposed for affordable housing.

Bruce McGonigal

19,523 views • 3 months ago

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994,634 views • 3 months ago

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55,940 views • 5 days ago

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46,909 views • 6 months ago

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28,161 views • 3 months ago

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16,393 views • 2 months ago

44000+ notices 888+ crore why to pay tax on crypto? you are neither facilitating it, nor making it completely accessible still bank accounts got blocked cause of P2P no clear infra or white market to buy and sell crypto at a reasonable price Bs tax lene aa gye katora leke

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96,995 views • 3 months ago

"More than 120 millionaires.. have signed an open letter urging PM Andy Burnham to tax their wealth. The campaign, called 'Proud to Pay' says a 2% tax on wealth over £10m could raise £24 billion a year" #GMB

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434,050 views • 2 months ago

Doerkson flips the script on the BC NDP regarding remaining leader: "Article 9.3 suggests that there must be a leadership review at convention ... Is there any ability for Niki Sharma or David Eby to assure us that [he] will get the support from the NDP at the next convention?"

Doerkson flips the script on the BC NDP regarding remaining leader: "Article 9.3 suggests that there must be a leadership review at convention ... Is there any ability for Niki Sharma or David Eby to assure us that [he] will get the support from the NDP at the next convention?"

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20,332 views • 3 days ago

A tiny 2% wealth tax, on 20k people would raise £24 billion per year to spend on the things that urgently need fixing in our country. We need some tax justice - the more money you have the less tax you pay and vice versa - that’s absurd.

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Dale Vince

1,163,967 views • 1 year ago

From today Family Farms and Businesses are subject to inheritance tax You can’t farm without land, and you can’t run a business without assets. Forcing families to sell off pieces of their livelihood just to pay a tax bill will lead to national decline.

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James Wright

19,587 views • 5 months ago

Canada’s government is now using your tax dollars to buy up empty condos in B.C. — and calling it “affordable housing.” Here’s what they’re not telling you. Developers overbuilt and couldn’t sell. Instead of letting the market correct, the government stepped in with $3.2 billion to bail them out. The developers get made whole. The government gets control of the housing supply. And you? You get to pay for it. Now imagine owning a $1M condo while the units around you fill with subsidized housing. What happens to your value? Your rent? Your exit? They already run the banks, healthcare, and your taxes. Now they’re reaching into the market itself. Follow the money — it never ends up in your pocket.

Canada’s government is now using your tax dollars to buy up empty condos in B.C. — and calling it “affordable housing.” Here’s what they’re not telling you. Developers overbuilt and couldn’t sell. Instead of letting the market correct, the government stepped in with $3.2 billion to bail them out. The developers get made whole. The government gets control of the housing supply. And you? You get to pay for it. Now imagine owning a $1M condo while the units around you fill with subsidized housing. What happens to your value? Your rent? Your exit? They already run the banks, healthcare, and your taxes. Now they’re reaching into the market itself. Follow the money — it never ends up in your pocket.

🇨🇦 Antonio Tweets

121,890 views • 3 months ago