Government Eyes Vacant Condos for Affordability

The federal government is eyeing a bold plan to buy over 2,000 vacant condos across British Columbia, turning them into affordable homes via rent-to-own programs for struggling buyers. With a $1.45 billion price tag, Ottawa would chip in 10%, leaving the province to cover the rest. This move responds to a condo glut in places like Metro Vancouver, where high interest rates and weak demand have stalled sales. Prime Minister Mark Carney insists it’s still a proposal, not a deal. Critics, including Conservative Leader Pierre Poilievre, call it a bailout for overbuilt developers, arguing prices should fall naturally. Supporters like B.C. Premier David Eby see it as a smart way to snag units below new construction costs. Experts say the real test is whether the government can negotiate steep discounts — otherwise, it could look like taxpayer-funded rescue. The plan’s success hinges on pricing, and the debate rages on: is this the right path to fix Canada’s housing crisis? 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/6cce9b98bf645752