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"(The developers) are asking for handouts... I think it is ludicrous, quite frankly" That was BC NDP Housing Minister Christine Boyle in 2021 as a Vancouver City Councillor Fast forward to today and she’s championing a $1.45B bailout for developers who can't sell their condos

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Cosmin Dzsurdzsa

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26,479 Aufrufe • vor 3 Tagen •via X (Twitter)

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"Mark Carney seems to have a bailout for anyone in the Liberal club of power brokers, corporate insiders, and lobbyists," Poilievre said. The latest example is his $3.2B bailout for developers in Vancouver that will turn 2,200 empty condos into affordable homes.
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After The Fucktastrophe Of The BC Condo Bailout The Likelihood Of Another Policy Change To Help Condo Developers Seems Guaranteed I think that Predictions are a Crap Business but here's one that is looking like a dead certainty Even though it only helps Developers Here it is:
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After The Fucktastrophe Of The BC Condo Bailout The Likelihood Of Another Policy Change To Help Condo Developers Seems Guaranteed I think that Predictions are a Crap Business but here's one that is looking like a dead certainty Even though it only helps Developers Here it is:

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🚨 Mark Carney says Metro Vancouver has 2,500 completed condos sitting empty. Developers don't want to sell at a loss. So Ottawa and BC are stepping in with billions in infrastructure money, cutting development charges by up to 50%, and using financing tools to convert vacant condos into affordable housing. Later, when asked if governments could buy unsold units from developers, Carney replied: "You can do both." Taxpayers becoming the backstop for the condo market? 🤔
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CBC REPORTER: "A third of the condos you're targeting for 'affordable housing' opportunities cost more than a million dollars. Who, exactly, is this program supposed to benefit?" BC NDP HOUSING MINISTER: "These are the details we are working on." Wait. What?

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Canada's condo bailout got rebranded. First it was about absorbing vacant/distressed condos in B.C. After the blowback, the language shifted to rent-to-own and ownership pathways. Cleaner politics. Same economic problem. There is unsold condo inventory. Someone has to eat the loss. Rent-to-own just makes the bailout sound like help for renters instead of help for developers. #CanadianRealEstate #HousingMarket #CanadaHousing #RealEstate #Economics

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Calling out the developers bailout by Mark Carney as it is. Pierre Poilievre: "What Mark Carney and the Liberals have done is they’ve inflated a housing bubble with too much money printing and immigration driving up demand. Having created the housing bubble, and now bursting that bubble, now they want to come and bail out the bankers and developers who profited from it. This is another example of a tiny club of Liberal elites, billionaires, and insiders getting rich by making hardworking Canadians poor." 🔥
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Calling out the developers bailout by Mark Carney as it is. Pierre Poilievre: "What Mark Carney and the Liberals have done is they’ve inflated a housing bubble with too much money printing and immigration driving up demand. Having created the housing bubble, and now bursting that bubble, now they want to come and bail out the bankers and developers who profited from it. This is another example of a tiny club of Liberal elites, billionaires, and insiders getting rich by making hardworking Canadians poor." 🔥

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