Here is what should happen: the developers of these unwanted condos lower the price to what people are willing to pay.
The purchasers now have an affordable home, or a place they rent for cheap.
The developers lose money, sending the market signal that you shouldn't build that type of housing unless you can do it much cheaper.
The developers lose money. They might even go bankrupt. That sucks, but that is business.
Future developments are more suited to what people want and are willing to pay.
The taxpayer doesn't pay for any of it.
This is what the market is good at, and the government absolutely sucks at. Let the market do its job.
Dear generation screwed, if you were waiting for prices to drop before buying a house, the Liberal government is bailing out developers and bidding against you, so that you can be a renter instead.
Carneys $2.5B condo bailout should enrage everyone.
Tax payers footing the bill into developers pockets who made more money than god for many years. Now their risk fails and tax payers foot the bill.
Shame on you @MarkJCarney
@wickdchiq You know this was my exact position until i saw this video. I’m aware of the Achraf Hakimi situation and for the last 48hrs I’ve been waiting for them to announce he’s been pulled from games but nope, he’s still playing. Didn’t know about Ronaldo & Neymar https://t.co/bWQvEnbG3r