I've heard that Mark Carney wants to 'bail out developers'. It looks to me more like David Eby wants to help out people who can't afford to buy a first home---but then spin, vibes, and ideology got involved. :-(
this post was submitted on 30 Jun 2026
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Yes. And Carney said the idea was to buy the condos from developers as a distress sale. That means buying the units for less than it cost to build them. That is not a 'bailout'. This is what I mean about it being hard to discuss public policy if people's understanding comes from vibes and ideology instead of looking at what people say and do.
The $1.4b came from a press conference he held. Paying upwards of $650k per unit is hardly a distress sale. What Carney should have done is let these unsold units put downward pressure on housing prices. Very misguided policy, and he's getting a lot of deserved heat over it.