Poilievre Calls for Probe Into B.C. ‘Condo Bailout’ Plan

Liam O'Connell

6/29/20261 min read

Conservative Leader Pierre Poilievre is calling on Parliament to investigate Ottawa’s proposal to help convert unsold condominium units in British Columbia into affordable housing.

In a letter to the House ethics committee, Poilievre described the proposal as a “condo bailout” for developers, bankers and investors.

The federal proposal could help finance the purchase of about 2,200 vacant condos in B.C., with the goal of turning them into affordable housing.

Poilievre Says Plan Could Block Price Correction

Poilievre argues the Liberal government is stepping into the market to support developers who built too many condos that did not match buyer demand.

He said the plan risks propping up high prices by preventing a natural market correction.

According to Poilievre, the proposal would keep prices from falling at a time when unsold units could otherwise become cheaper for buyers.

He also claimed there are inconsistencies in how the project came about and wants the committee to examine the proposal.

Carney Says Program Is Meant to Help Homebuyers

Prime Minister Mark Carney has said the goal of the program is to support Canadians who need housing.

Carney has also acknowledged that the government did not clearly explain the proposal when it was announced on June 19.

He said the plan is part of the B.C. government’s broader effort to help homebuyers who are struggling to save enough for a down payment.

The proposal comes as B.C. faces a large number of completed but unsold condo units, particularly in Metro Vancouver.

Committee Asked to Examine Proposal

Poilievre’s letter was sent to the Conservative MP who chairs the House ethics committee.

The committee, however, has a Liberal majority.

Housing Minister Gregor Robertson’s office did not immediately comment on the letter.

The debate over the proposal comes amid broader questions about whether governments should intervene to convert unsold private-market housing into affordable units, or allow falling demand to push prices lower on its own.

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