Juno News - June 26, 2026


Carney’s $3.2 billion Vancouver condo bailout

Mentioned
Gregor Robertson
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Episode Stats


Length

2 minutes

Words per minute

182.32

Word count

431

Sentence count

4


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, we talk about the Vancouver government's plan to bail out developers in order to get them to sell their remaining Vancouver condos, and whether or not it should be extended to other parts of the country. We also talk about why this is a bad idea and what the government should be doing instead.

Transcript

Transcript generated with Whisper (turbo).
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
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.