My biggest takeaway from the "condo bailout":
It revealed how few people realize their tax dollars have been exposed to the housing market for 30+ years:
Mortgage insurance
GST/HST on housing
Development charges
Etc.
I've been beating the drum for 10 years that this is a systemic issue that we need to reduce exposure to.
But please... tell me NOW why your taxes shouldn't interact with housing. Where were you in 2021?
Eby Briefed for Meeting With Vancouver 'Condo King' as Rennie Raised Money for Carney — Four Months Before Multi-Billion-Dollar Condo Bailout https://t.co/cbQBf8xWY4
Funny how the free market only exists when prices are rising.🇨🇦
When condos stop selling, suddenly taxpayers are expected to step in.
Profits were private.
Losses are public.
That’s not a housing policy.
That’s a bailout.
The BC condo developer bailout, thanks to Carney, has finally rightfully angered taxpayers who cannot afford to buy these overpriced units but their tax dollars are being used so others can. This will be the moment in time when the downfall of Carney began in earnest.
Poilievre rejects the $3.2B condo bailout, arguing that those who took the risk should bear the losses.
"Now they're losing money and instead of letting those losses go to the people who made the decisions, Mark Carney wants you to pay the price," he said.
🇨🇦 Developers took the profits when prices rose. 📈
Taxpayers take the losses when they can’t sell. 📉
This isn’t a housing policy.
It’s a private equity bailout with a Liberal logo on it.
We’ve been cooked for a while.
Most Canadians are just smelling it now.
#CdnPoli #Carney #Housing #Canada
So if you are a family that can’t afford your mortgage because of a job loss, you are forced to sell at the current market price
But if you are a developer that built product that no one wanted, you get a taxpayer funded bailout
The stupidity is amazing 🤦♂️
Today, on my final day as Director of National Intelligence, I’m releasing never-before-seen communications and documents exposing how Dr. Fauci provided millions in US taxpayer dollars to fund dangerous gain-of-function research at the Wuhan lab, worked with politicized elements within the Intelligence Community to suppress the truth about his actions and hide the virus’ lab-leak origins, and lied to Congress while under oath in 2024. It’s time you know the truth.
https://t.co/3YJSstB7d4
@elonmusk Hey @elonmusk, now you’re a trillionaire, do you have a few dollars to spare. From a single mama over here in Canada, getting slaughtered by the liberals and their policies, our ever increasing groceries and gas and taxes 😅💓