Juno News - June 28, 2026


Is Carney’s condo bailout DEAD？

Topics
condo bailout backlash immigration crisis
Mentioned
Carney Mark Carney Trudeau Berna Trump Pierre Poilievre Dimpy Brar David Eby Petroni Cooper Dimby Ford
The UK's grooming gang scandal raises new questions for Canada Economist EXPOSES the hidden cost of Carney’s carbon tax

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Length

22 minutes

Words per minute

162.29

Word count

3,598

Sentence count

223

Harmful content

Hate speech

15

sentences flagged


Summary

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

PM Carney and Premier David Eby are in damage control after the botched condo bailout announcement a week ago. Prime Minister Justin Trudeau says the program is not aimed at bailing out developers, while Eby says the details are yet to be finalized.

Transcript

Transcript generated with Whisper (turbo).
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
Topics generated with Qwen2.5-3B-Instruct.
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00 Well, both Prime Minister Carney and the Premier of British Columbia are in damage control after
00:00:11 the botched condo bailout announcement a week ago. Premier David Eby says the Vancouver condo
00:00:18 program is not aimed at bailing out developers. Eby says the details are yet to be finalized.
00:00:25 On this condo proposal, it's, I mean, you know, the federal government was enthusiastic about us announcing this before all the details were out.
00:00:37 But in the absence of the details, the plot has been lost a little bit here.
00:00:42 So happy to share some of the information with you.
00:00:44 If you are a condo developer that took a bet on the high end of the market and you're facing significant potential loss of profits, what we are proposing will not assist you.
00:00:59 The government of BC has been very clear, I've been very clear, that we are seeking to make housing more affordable for people.
00:01:08 And that includes inevitable corrections in the market.
00:01:11 What we see as an opportunity right now is the chance to buy products below the cost of construction.
00:01:20 While Carney also tried to clear the air, saying no developer asked for a government bailout,
00:01:26 he also said the program began as a B.C. government initiative.
00:01:29 I want to say up front, I don't think we've done, self-cluded,
00:01:33 a particularly good job of rolling this out and explaining exactly what it is.
00:01:37 So, with your indulgence, I'm going to say, I think it's important to say a few words of what this is and what this isn't.
00:01:44 We start, as we always do, with Canadians.
00:01:48 We don't start with developers.
00:01:49 We don't start, yes, it's great that there are developers and they build condos.
00:01:53 What we care about is affordable housing and affordable housing, in this case, for the people of British Columbia.
00:01:58 And the province of British Columbia, which initiated the idea, sees an opportunity, potentially given what's happening in that market, to convert some of these condos that are lying unsold to affordable housing, particularly rent to buy affordable housing for, and you can anticipate.
00:02:22 so these are people uh in many cases young families but people who don't have money for
00:02:27 a down payment well the 3.2 billion dollar program announced last week was met with a
00:02:33 lot of backlash including from conservative party leader pierre polyev why is he bailing out these
00:02:38 condo developers who've made billions over the last several decades well and i quote
00:02:44 the developers don't want to sell at a loss who does somebody's going to lose money
00:02:53 right the government inflated the housing market into a bubble and now the bubble burst
00:02:59 so who's going to pay the price mark carney wants you prime minister carney also spoke about
00:03:06 immigration this week saying his government now has things under control you've taken back control
00:03:13 of immigration. Asylum claims are down by a third, temporary foreign workers arrivals down by half,
00:03:20 and international student arrivals down by 60%. We can now carefully rebuild a sustainable
00:03:27 immigration system consistent with Canadian values. Well, describing the situation as back 0.97
00:03:33 under control suggests things were out of control before. As many Canadians suspected,
00:03:39 The influx of so many foreigners led to a housing crisis, increased crime, and inflation. 1.00
00:03:46 Let's be real. Crime is up. Repeat offenders are released on bail. Police responses are slower 1.00
00:03:52 than ever. And in many places, law-abiding citizens are expected to just hope nothing
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00:04:54 safe than sorry. Our guest today is writer and political commentator Dimpy Brar joining us from
00:04:59 Oakville, Ontario. Welcome, Dimby. Thank you so much, Mr. Petroni. Always a pleasure to be with
00:05:05 you. So we've got both Premier Eby as well as Prime Minister Carney in damage control
00:05:12 trying to fix what they broke, really. You had the announcement on Friday, which was apparently
00:05:19 botched from a communications vantage point. It sounded like he wanted to save the developers
00:05:25 from losing money and now it came out as we yesterday and and over the course the last
00:05:32 48 hours no it's nothing to do with the developers they didn't ask us for the money and
00:05:36 you know we don't care anyway because it's all about affordable housing for
00:05:40 canadians who can't afford it what do we make of this mess well first of all i love that the
00:05:47 idea that it's botched comes down to this it's botched because he told the truth accidentally
00:05:54 That's what made it a botched communication swap. He accidentally had a little slip up and said that
00:06:00 it was about the developers. Now, I would just like to remind your viewers that his exact phrase
00:06:06 was that no one, quote, directly contacted him. Now, of course, no one seriously thinks that
00:06:13 someone is directly contacting the prime minister himself personally to deal with this. However,
00:06:19 directly is a very interesting use of phrase. Now, to be indirect, one could always speak to
00:06:26 his chief of staff or his many staffers, or perhaps he went on a golfing trip with his fellow
00:06:31 or former employees of Brookfield. You know, that would technically not count as directly either.
00:06:37 Those are all indirect measures, but the point remains the same. This government somehow has
00:06:43 the money to bail out a subsect of condo units in Vancouver, potentially thinking to do the same
00:06:51 thing in Ontario. All the while, it struggles to have money to, first of all, restore 24 Sussex.
00:06:59 It has to essentially go fund me that. And it also lacks the money and the financial holdings
00:07:07 to support and preserve our industries, which are a part of national security. So for instance,
00:07:13 our energy sector, our critical mining sector, and most importantly, our manufacturing sector.
00:07:20 These somehow do not rise to the occasion of not necessarily a government bailout,
00:07:25 which none of them have asked for, but somehow it's too much to ask the government to support
00:07:30 and preserve those industries, which are integral to our national security issue.
00:07:35 And yet somehow condos in Vancouver, that is a national issue for Canadians.
00:07:41 Well, if they extend that program to Ontario, I think it might have been a bit of a trial balloon.
00:07:47 Let's see if it flies in Vancouver, which is a major market in Canada.
00:07:52 And if it does, well, then we can roll it out in Ontario.
00:07:55 And I think they saw a massive backlash that arose from that and the outrage saying,
00:08:01 how dare you use Canadian tax dollars in order to buy out these developers that have made out
00:08:07 like bandits for decades. When times are good, you don't see those developers sharing their
00:08:14 massive wealth with the rest of us. But when things go south, because their investments were
00:08:20 made during a time when you already had a frothy real estate market, then we're supposed to pick
00:08:25 up the tab. You know, all this, as so many Canadians are struggling to get into the housing
00:08:31 market. I mean, it just rubbed a lot of people the wrong way, and for good reason. And so now
00:08:38 they're scrambling, because you also have the Prime Minister saying, well, by the way, it was a
00:08:42 it was a BC government initiative. You know, it was their idea. We kind of went along with it. And,
00:08:49 you know, it's really all about affordability. I think it was just botched from the start.
00:08:55 And so any plans they might have had to roll it on Ontario, I think may have to hold off
00:09:01 at least for now.
00:09:03 But I mean, where does it take us now?
00:09:06 Where do we go from here in terms of this?
00:09:08 Because their credibility is kind of shot, isn't it?
00:09:12 Oh, the idea that Mr. Carney is someone that who would be responsible for this, it's really
00:09:17 a hot potato situation.
00:09:18 That's what I see it as with his relationship with Mr. Eby.
00:09:21 Mr. Eby wants to blame Mr. Carney and Mr. Carney wants to blame Mr. Eby.
00:09:27 And this is going to be very interesting moving forward because, of course, Mr. Eby is not exactly right wing.
00:09:33 So we're not dealing with somebody who is antithetical to the Liberal Party's platform or even working with Mr. Carney.
00:09:41 This is someone who has been quite an open supporter and sympathizer of Mr. Carney's policies.
00:09:47 And it's indicative of a problem that Mr. Carney is having nationally now.
00:09:50 There are two premiers who, again, they don't need to explicitly say that they don't like Mr. Carney or that they disagree. It's just a very interesting distancing that's happening, both between Mr. Eby, again, who represents a left flank to Mr. Carney, as well as Mr. Ford, who represents the, quote, right flank to Mr. Carney.
00:10:12 One way or another, these two premiers, despite their differences in politics, seem to understand one thing, that Mr. Carney is not as popular as he might seem, and tying their fortunes to him does not seem to be as politically expedient or lucrative as it once was when he began.
00:10:30 So again, this is really, I think, the beginnings of a scandal that's going to continue on throughout the summer.
00:10:36 We still don't know which developers in question who really asked for this and what at some point we will find out the answer to this.
00:10:46 And I am troubled by the fact that, as Mr. Cooper pointed out on your show, I'm troubled, especially by the fact that Vancouver is a hotbed for money laundering,
00:10:56 especially money laundering of criminal organizations, if not foreign adversaries.
00:11:02 The CCP really has a hold in Vancouver, especially in its real estate market.
00:11:07 So again, I don't think that this is as simple as it seems or as it appears at first glance.
00:11:13 We are seeing the beginnings of a scandal that he'll be dealing with, I think, for a long time.
00:11:19 Yeah, I think we're going to find out.
00:11:21 some developer will let slip that yeah we did lobby the government on this i think keep an eye
00:11:28 on that story because guaranteed that they did they don't want to lose money and so they went to
00:11:34 one level of government or the other possibly evie possibly carney because of course you have
00:11:41 cases where they raised money they raised they did some fundraising for for carney ahead of his
00:11:47 of his uh winning the election but there's all of that there's and you're right to raise the issue
00:11:54 about so many other questions around how this is going to work like in eb's statement earlier
00:12:01 he talked about getting these condos at a price that's lower than the construction costs that
00:12:09 doesn't make much sense to me i mean why would these condo owners sell to government at a loss
00:12:16 they might as well just go to the market they were going to do that they just go to the market
00:12:19 and sell them and you know take a haircut and that's just being a byproduct of the speculative
00:12:27 work that they do and sometimes you lose most of the time they win but this time they didn't
00:12:33 and so you take a haircut and move on but what Evie is saying is well we could get these condos
00:12:38 cheap and then have a kind of a buy to rent or rent to buy program and so I mean it doesn't
00:12:46 makes sense to me that these developers would unload these condos to governments at less than
00:12:53 what they could get on the market or at the same time amount they could get and you know what i'm
00:12:58 saying like that that part doesn't ring true to me and you know what we need to hear from here
00:13:03 uh is the developers these guys need to come out and say okay here's a deal we own these condos
00:13:10 And here's our position on this. You know, yes, we wanted government money. Yes, we lobbied, you know, whatever their quote unquote, what their truth is.
00:13:20 They need to say I'd love to hear from them, but they've been quiet, haven't they?
00:13:25 Yes, their silence is notable, which is never a good sign for them, by the way.
00:13:31 But it really raises the question of who exactly Mr. Carney's constituency is, or at least exactly who does he think he's exactly ruling on behalf of.
00:13:42 It's certainly not the people. The people don't get lower affordability or housing prices just because he bails out these developers.
00:13:50 In fact, it seems that when he's speaking about affordable housing, he means affordable housing for the developers is what he's expecting.
00:13:56 But more importantly, a party that serves the interests of its donor class, which let's be honest here, there is a major faction of the development and real estate industry across this country that is a consistent voter and donor and fundraiser of the Liberal Party of Canada.
00:14:17 So it raises the question of who Mr. Carney is really serving. We've seen him serve the interests of the Europeans, of Davos, of everybody except his own people. And in many ways, Mr. Carney should have a new motto, which is ABC, anything but Canadians.
00:14:37 He will help out donors. He will help out Europeans. He will help out the Chinese Communist Party. He will help out even Iran and Venezuela, where he now wants to open diplomatic centers or embassies.
00:14:52 But somehow the Canadians bear the brunt of this. And after a certain point, one has to wonder, when Canadians are lining up, the optics of Canadians lining up for food banks, if the government doesn't have money for that, how could you possibly have money for a bailout of condos out west?
00:15:12 It's all very strange. And again, it's I really believe it is not the beginning of the end, but really the end of the beginning with Mr. Carney's tenure.
00:15:24 Really? So you think it's downhill from here?
00:15:28 Oh, yes. Mr. Carney, for the last couple of a couple of months, you know, everyone has the first year honeymoon, which is why no one should really look at polling in the first year of any prime minister in Canada, because it's usually very high, very consistent.
00:15:41 and he has had record high polling across the country. That is absolutely true. But the
00:15:47 precipitous fall that he's shown, especially in like the ledger polling for the past two months,
00:15:52 when you have it for two months, it's not necessarily about the numbers, but the direction
00:15:56 in which things are going. And one way or another, things are going southward. The Canadian people are
00:16:03 not too happy with Mr. Carney's performance. And I think it all amounts to the same thing.
00:16:08 Mr. Carney promised a kind of financial ruling. He is the international banker extraordinaire.
00:16:16 He understands the markets and economics. That's why he was supposed to get us the best deal with
00:16:21 President Trump. That's why he was elected. Essentially, the Canadian electorate made this
00:16:27 decision, and I don't believe that voters are ever wrong the same way customers are never wrong,
00:16:32 in theory. He was elected simply for the fact that the Canadian voter thought
00:16:37 if there was one man who was going to get us a better deal economically with Mr. Trump,
00:16:42 it would be Mr. Carney. The fact that he is failing on that account and on various other
00:16:47 economic planes and domains in Canada. We are still in a technical recession. We still have
00:16:54 a housing crisis. We have an immigration crisis on top of it. And we have two provinces who are 1.00
00:17:01 flirting with the idea of secession. Any one of these should bring a prime minister to his knees
00:17:06 To have all of them going on at once is not exactly the kind of political situation or landscape that Mr. Carney wants to be ruling on top of.
00:17:19 Speaking of immigration, they did do some internal polling and they found out that it's a major issue amongst Canadians. 0.98
00:17:27 They're really fed up the mass influx of so many people into the country. 1.00
00:17:31 It's created gridlock on the streets, created a housing crisis. 1.00
00:17:36 It has served to spike inflation as well as crime. 0.99
00:17:42 And so he came out recently and spoke about how immigration levels are now back to normal.
00:17:49 Let's listen to what he had to say.
00:17:52 We've taken back control of immigration.
00:17:55 Asylum claims are down by a third.
00:17:57 Temporary foreign workers' arrivals down by half.
00:18:01 and international student arrivals down by 60%.
00:18:04 We can now carefully rebuild a sustainable immigration system
00:18:09 consistent with Canadian values.
00:18:13 Well, if that's what he's saying, things are back under control.
00:18:16 First of all, he was advisor to the Trudeau government for five years
00:18:19 when it was out of control.
00:18:22 So that's what this tells me.
00:18:25 I just don't think they have a whole lot of credibility on the immigration file,
00:18:27 but they understand how political it is and how potentially explosive that issue is if they don't
00:18:34 deal with it. First of all, do you believe what they're saying here? Things are under control.
00:18:40 I love the idea that immigration is back to its normal levels, to what? Trudeau levels? That was
00:18:45 already exponentially out of control. So again, that's not exactly a win here or some kind of
00:18:52 victory or success that he should be proud of. It's interesting to me that the prime minister
00:18:57 is even speaking about immigration because, again, immigration actually affects every single sector
00:19:04 at this point in Canada. You see it every day when it comes down to jobs and the absolute lack
00:19:10 of employment in this country, both youth and otherwise. You see it when it comes to law and
00:19:16 crime and disorder. You even see it in our healthcare system. Why do you think we have
00:19:20 such egregious waiting lines and waiting times now canada is very much not a racist nation it
00:19:28 never has been and it never will be canadians are the most welcoming of i think all peoples among
00:19:34 the west it has nothing to do with race what this is really is a betrayal of the canadian people
00:19:41 and let's be honest the liberal party of canada has had a platform and policy of essentially
00:19:48 replacement migration. They have been using and importing these peoples for a very simple fact.
00:19:56 They understand that newcomers and immigrants are more likely to vote liberal, and they've 1.00
00:20:01 essentially flooded the zone for that purpose. And so far, it has served them very well. 1.00
00:20:07 So just because he cuts immigration now doesn't really make a dent of a difference.
00:20:11 This is actually, we've reached a point where that's no longer enough. You could seal the
00:20:16 borders tomorrow, stop any immigration to this country, and we remain a problem. And the problem 0.96
00:20:23 isn't just domestic in terms of prices, housing prices, employment, and health care. It's also
00:20:29 a national security threat. We still are unaware of who is coming into this country. And the people 0.75
00:20:36 to me are actually less of a concern than the ideas which they bring. The Jew hatred that's 1.00
00:20:41 been coming across this border has been largely imported. And we're seeing the seeing that very 0.98
00:20:47 clearly with this. The Jew hatred in Canada is of a level that is not really normal or consistent
00:20:56 with Western civilization. However, what it is consistent with is the kind of divine commandment
00:21:03 of some peoples and ways of life and religions, especially Islam, which believe that there is a
00:21:09 quote, to quote their hadith, a Jew behind every tree. So this is becoming a national security 0.60
00:21:15 issue, again, not just to the United States and to our allies, but to ourselves. And again,
00:21:21 Mr. Carney pretending that he is strong on immigration is like Mr. Carney pretending like
00:21:27 he's strong on the border, like Mr. Carney pretending he's strong on law and crime,
00:21:31 and Mr. Carney pretending like he's strong on the Arctic. He says the right things. He never
00:21:38 backs it up simpy thank you so much for coming on the show powerful stuff as always oh it's always
00:21:44 a pleasure it's my favorite thing to do simpy braher well if you enjoyed this show consider
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00:22:03 you so much for tuning in we'll see you next time
00:22:08 You