Government Buys Empty Condos for Affordability

The government’s $3.2 billion plan to buy 2,200 empty condos in Metro Vancouver for affordable housing has sparked fierce debate. Prime Minister Mark Carney says it’ll revive a stalled market, but critics call it a developer bailout. Hedy Fry, Vancouver’s MP, scoffs at the criticism, calling the price tag laughable and defending the government’s ties to developers. Meanwhile, some Liberals are getting backlash from constituents who feel the money should go to those in need, not developers. With a byelection looming in North Vancouver — where the Liberal nominee is expected to be Braeden Caley, former advisor to Mayor Gregor Robertson — the move is testing the government’s popularity. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f4752ccc921b3ced