Fun fact: Many condo developers in Canada are backed by foreign banks, developers, and equity groups. Your government wants to bail out foreign Institutional Investors with your taxes.
There are citizens in my riding who are unable to afford their mortgage renewal. The only options for them are to sell at a loss or face foreclosure & a court ordered sale. This is why court ordered sales are on the rise in BC. There are no bailouts for them but they will be paying for Carney's bailouts for corporate developers in Vancouver.
Carney and Eby are handing developers $3.2 billion to bail them out for building luxury shoeboxes nobody wants. Taxpayers now buying their unsold junk and slashing charges so the failures can continue.
This is subsidizing incompetence, pure and simple. "Too big to fail" corporate welfare while families get crushed out of the market. The NDP-Liberals won't let the market fix their mess.
British Columbians are sick of this garbage. Time to fire this government and get common sense back.
Mark Carney basically announcing a bail out for Vancouver and area developers;
Too many completed condos sitting empty. Metro Vancouver alone around 2,500 finished units are standing vacant with no buyers.
They don't want to sell at a loss, they can't afford to hold those empty units indefinitely.
We will convert vacant condos into affordable housing. We're going to go use the right financing mechanisms, convert those into affordable housing so people can move in and use that."
Greed and horrible municipal planning has led to building overpriced shitboxes that no one wants.
Now Carney will reward that with taxpayer dollars instead of letting the market solve itself by bringing the prices down.
Absurd intervention.
I thought he was an economist??
Wow. Carney just dropped this almost 10 minute video basically setting up Canadians for no deal with the US.
What people need to understand, this is Carney's plan, and not because of Trump. He is putting millions of jobs and countless businesses at risk to satisfy his agenda.
People who rely on the US for trade & their livelihoods better wake up, its you who are going to pay the price, not this guy.
'An RBC report released Tuesday confirmed that new investment in Canada has completely collapsed during the Liberals’ tenure in power'
https://t.co/Mku4aE5h5s
Told us to boycott travel to US
Told us to use "paper uh water cartons".
Proceeds to travel to US & use single drink solo cup. SMH
Was always a piece of shit phoney
No Canadian flag.
But a flag of a non existent state that is the raison d’être of banned terror groups like Hamas.
But they regard Canada as an “illegitimate settler state” characterized by white supremacy and genocide.
Tommy Douglas must be rolling over in his grave.