Chrystal Tagmann 🇨🇦

Gifted napper, baker, and ice cream eater. (she/her)

[Mo Amir 🪬 @vancolour]

Don’t let the Prime Minister or the Premier gaslight you.

This is a bailout, by definition.

But maybe B.C. Premier David Eby will be true to form and walk this back? 🤞

My thoughts on CBC’s On the Coast:

[Chrystal Tagmann 🇨🇦 @tag_mann]

It’s interesting to watch the govt’s narrative shift as public opposition grows. It started as “builders aren’t going to build the new housing we need so we have to buy existing units” now it’s “we’re doing it to help first-time homebuyers.” What’s next??

[Mo Amir 🪬 @vancolour]

The Carney/Eby condo bailout isn’t about guaranteeing developers a profit.

It’s about shifting private risk to the public.

Developers recoup much of their money faster.

Taxpayers are on the hook if government pays more than the market would otherwise bear (which they will).

[John Pasalis @JohnPasalis]

Stope the insanity!

BC doesn’t need a government funded buy-to-rent scheme

People can’t afford these condos because the price is too high, not because they don’t have a down payment

If builders actually sold at market prices, people would buy them

[Mo Amir 🪬 @vancolour]

Winners doesn't do that on the public's dime.

This proposal has governments taking on more public debt and taxpayers assuming the risk to prop up real estate developers and home prices.

That's a bailout.

[wealthmoose @wealthmoose]

The problem with a condo bailout isn’t the condos.

It’s that Canadians spent years absorbing the costs while developers took the profits.

Now they’re being asked to absorb the losses too. 🇨🇦🏗️

[Chrystal Tagmann 🇨🇦 @tag_mann]

This. Right. Here. 👏 @BrendaBaileyBC @christineeboyle @Dave_Eby @MarkJCarney @Taleeb
Mo nails it yet again 🔥

[Mo Amir 🪬 @vancolour]

Leave the condos empty.

Tax the empty condos for being empty.

Let condo prices plummet until the condos are no longer not empty.

[Robert Renger @rrrobbberttt]

Instead of govt (taxpayers) buying developers’ empty condos, why not encourage their private sale or rental by reinstating the Empty Homes Tax?

In May 2023 ABC gifted developers an unlimited exemption from EHT to replace the previous time-limited exemption (see below).

[Steve Saretsky @SteveSaretsky]

@gregorrobertson I guess we are going to ignore the moral hazard and pretend there will be an arms length vetting process.

[The Globe and Mail @globeandmail]

Opinion: Carney’s ridiculous, myopic plan to bail out condo developers https://t.co/2TmVAENLFu

[Meredith Martin 🇨🇦 @meredithmartin]

The soccer vibes in Canadian host cities are real, but the profits are an illusion. On today's Classonomics, @MikePMoffatt & @SabrinaMaddeaux break down the economics of Canada's participation as a co-host of this year's World Cup.

[Rohana Rezel 🐘 @[email protected] @rohanarezel]

“I don’t set the prices. It is what the market will bear,” Vancouver Developer Ian Gillespie told reporters in 2007.

Why are developers allowed to charge "what the market will bear" on the upside but bailed out by @MarkJCarney on the downside?

#vanre #cdnpoli #CondoBailout

[Lindsay Brown @Lidsville]

"Austerity for us, socialism for the rich"

[Ron Butler @ronmortgageguy]

Time For Mark Carney To Pull A Doug Ford: Apoligise & REVERSE The Condo Bailout

It's not hard Prime Minister: Just get in front of a microphone & say:

"My Friends, the People have spoken & we are canceling the Condo Purchases, we will still achieve Affordable Housing"

2/

[T.D. Leaker @TdLeaker]

If Condos aren’t selling at “market value”, then they aren’t priced at “market value”.

It’s really that simple.

[Robert Renger @rrrobbberttt]

Bob Mackin reports:

Duncan Wlodarczak, former deputy head of Gregor Robertson’s Vision Vancouver civic party, co-organized Rennie’s 2025 and 2026 fundraisers for Carney.

He is now chief of staff at Onni and chair of the Liberal Party of Canada in B.C.

https://t.co/ghCXbNEtsf

[The Mainlander @MainlanderNews]

With October’s municipal election approaching, organizers with the Vancouver Tenants Union advocate for firmer opposition to displacement from progressive city councillors.
@YVRTenantsUnion

https://t.co/AxqhVAjGly

[Cameron Murray @DrCameronMurray]

Funny how quickly things went from “not enough homes” to “too many new homes sitting vacant”

[zupa grochowa @Grochowa2]

This is what Carney meant when he said “we’re in the business of building homes” - they’re not building anything, they’re not expropriating units for public housing, they’re not even doing rent control. The “business of building homes” was always about enriching developers.

[Chrystal Tagmann 🇨🇦 @tag_mann]

Why should I care if we evict Ken Sim, if whoever replaces him will also vote to evict me? @OneCityVan
@COPEVancouver @VanGreens #vanpoli

[Lindsay Brown @Lidsville]

A must-read Mainlander article on the failure of the 3 "progressive" Vancouver parties (COPE, Greens & OneCity) to protect tenants.

Like me, it's also scathing about their attempt to negotiate an anti-Ken Sim coalition.

What is going on?🧵
https://t.co/rOniy0RWWN #vanpoli

[Robert Renger @rrrobbberttt]

CAPITALISM FOR DEVELOPERS & DUMMIES

Purchasers who don’t close on condo presales worth drastically less than contract prices have to compensate developers for the difference.

But in a rising market seems developers can cancel presale contracts and later resell at higher prices.