Juno News - Carney’s $3.2 billion Vancouver condo bailout

00:00:00.000 so what do you think of this condo deal the bailout in vancouver is costing taxpayers 3.2

00:00:06.880 billion dollars and it's not just for the condos there are other aspects to this deal

00:00:11.680 but my concern is that it's going to be extended that they're looking at toronto and so far the

00:00:18.960 question has been asked to the housing minister gregor robertson and he basically ducked the

00:00:24.400 idea that he's in negotiations with the ford government on bringing the same thing to toronto

00:00:29.680 but that could be even more expensive when you consider the fact that there's a lot more empty

00:00:35.200 condos uh in toronto what do you make of all of this oh it's brutal i mean look uh at the

00:00:41.680 end of the day what what is this it's a bailout right for developers or home builders or whatever

00:00:46.720 you want to call it but look uh if the government goes through with this taxpayers are getting

00:00:50.480 soaked and look uh i've got four main issues with this there's probably more but let's just

00:00:55.280 start with four number one taxpayers shouldn't be bailing out developers okay this is taxpayers

00:01:02.080 money right why does the government think it can take money from struggling canadians who can't

00:01:06.160 afford homes many canadians barely afford to keep up with their own rents and then to take that money

00:01:11.920 and give it to some developers like come on right uh we don't have all the information but it sounds

00:01:17.600 like the government is going to try to buy up what about up to 2200 condos in vancouver that

00:01:23.040 currently aren't being sold it could end up costing taxpayers just for that uh like 1.5

00:01:28.720 billion dollars that's some of the estimates i've been hearing but number two okay the government

00:01:34.560 is intervening in the marketplace as prices have been falling and as prices would have come down

00:01:41.680 because these uh developers these home uh sellers they would have to lower prices

00:01:47.040 number three you see government taxes regulations fees charges already making homes in canada more

00:01:53.120 expensive and number four mark as you're talking about uh the incentives in this are brutal right

00:01:58.720 number one you can expect politicians in other parts of the country not just vancouver to now

00:02:03.840 want a deal for developers in their own provinces potentially but number two what type of incentive

00:02:10.400 does this give to other developers across canada right hey don't worry if you can't sell your

00:02:15.680 condos, right? We'll just come in and potentially bail you out as well. So awful incentives at play here.

Juno News - June 26, 2026