Conservative Leader Pierre Poilievre criticized a plan by the Liberal government and the B.C. provincial government to purchase vacant condo units in the province for use as affordable housing, calling the measure a “bailout.”
During a news conference at the Vancouver International Airport on June 21, Poilievre said that for young Canadians, home ownership is out of reach due to a decade of inflation.
“They’re struggling to find jobs. Food, gas, and other costs have exploded due to Liberal inflation, and here’s my question to you today: Where’s your bailout?” he asked.
He said a plan by the Carney government to turn 2,200 vacant condo units into affordable homes would not involve lowering the values of the units, since developers do not want to lose money.
“Somebody’s going to lose money here, because if the house, the condo goes from expensive to less expensive, who’s going to pay the difference?” he said, adding that taxpayers would bear the cost.
“We think that’s wrong, and that’s why Conservatives are announcing today that we are calling on the Carney Liberals to cancel the bailout of developers and banks, and instead, if you want affordable housing, get rid of all the red tape and taxes on home building, and let builders build, workers work, buyers buy, and investors invest in an open and free market.”
“Canadians gave our government a clear mandate to build a stronger country – one where people are empowered with more opportunities, lower costs, safer communities, and homes you can afford,” Carney said.
“We’re working in partnership with the Government of British Columbia to deliver – building affordable homes, modern transit, and new community spaces all across B.C. Together, we’re building a stronger British Columbia, and a stronger Canada for all.”
The Canada-British Columbia Partnership on Condo Conversion would be a joint initiative involving Build Canada Homes—a federal agency tasked with building affordable housing at scale—and BC Housing, the announcement says.
“If the price is too high for people to buy, the price must come down until people purchase, and if that means the developers and banks who made this decision lose money, regrettably, that has to happen,” Poilievre said.
“Somebody is going to lose money. I don’t believe it should be the single mom who is working at minimum wage or the out-of-work assembly line worker from Windsor or the logger from British Columbia who can’t pay his bills.”
B.C. Premier David Eby said the province’s partnership with Ottawa would improve investment in homes and infrastructure.
“That means more homes people can afford, better services, and more good job opportunities as we work together to strengthen B.C. and Canada,” he said.
