Juno News - April 03, 2025


Mark Carney’s housing scheme could make Brookfield BILLIONS


Episode Stats


Length

12 minutes

Words per minute

157.44865

Word count

1,932

Sentence count

116

Harmful content

Hate speech

2

sentences flagged


Summary

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

A government-run construction company that builds tiny homes with no parking spaces? This is the Liberal Party of Canada's new plan to solve Canada's housing crisis, and it's even more radical than the ones Justin Trudeau and Stephen Harper have come up with over the past decade.

Transcript

Transcript generated with Whisper (turbo).
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 Earlier this week, Liberal leader Mark Kearney introduced what the Liberals and the Liberal
00:00:04.640 media called the most ambitious housing plan in Canada since the Second World War.
00:00:10.400 We used to build things in this country. After the Second World War,
00:00:13.680 Canada faced a housing crisis. The government built prefabricated homes that were easy to
00:00:18.080 assemble and inexpensive. And those homes are still here 80 years later. Now we're in another
00:00:23.200 housing crisis. And it's time your government got back into the business of building affordable
00:00:28.080 homes. We will build new homes for Canadians at a pace not seen since the Second World War.
00:00:33.440 We'll build a Canada you can afford. Ambitious. That's one way of putting it.
00:00:39.440 Many Conservatives rightly criticized this program as being a Soviet-style system,
00:00:45.200 or flat-out Communism. That is, after all, what you call a system where the government owns the
00:00:49.760 means of production. So rather than Canadian businesses, entrepreneurs, and home builders
00:00:54.960 managing and building these new homes, Kearney's plan has government bureaucrats doing it.
00:01:00.720 Here is what Conservative leader Pierre Polyev had to say about it.
00:01:04.000 He wants to put the Liberal policies on steroids. His housing plan — I don't know if you saw this
00:01:09.040 earlier this week — he wants to create a government-run construction company that is going to make
00:01:16.160 prefab tiny homes with no parking spots. This is his idea for housing. This is even more radical than the
00:01:23.840 stuff that came from Stephen Gilboa and Justin Trudeau over the last 10 years. This is not a serious plan
00:01:31.040 to protect our economy and break our dependence. Tiny homes, no parking spaces — does that sound
00:01:36.880 appealing to you? But these criticisms miss a deeper, far more concerning problem. Yes,
00:01:42.880 Kearney's announcement seems like another silly leftist scheme, a classic top-down, rule-by-experts,
00:01:49.200 big government solution. But when we dig into the details, this isn't just another leftist gimmick.
00:01:55.280 Juno News has found a worrying connection. Mark Kearney could personally make millions or even
00:02:02.080 billions of dollars from this housing scheme. Let's dig into the details of the housing plan.
00:02:08.080 Here it is on the Liberal Party's website. So this is what they want to do. They want to build 500,000
00:02:14.320 new housing units per year. They want to create a new government agency called Build Canada Homes,
00:02:21.120 or BCH, which will be a public-private partnership. Now that's an important detail. They want to act as a
00:02:27.760 developer to build affordable housing at scale, including on public lands. They want to provide
00:02:34.880 over 25 billion dollars in financing to build prefabricated homes in Canada. They want to provide
00:02:42.160 another 10 billion dollars in low-cost financing and capital to affordable home builders. So
00:02:48.720 government bureaucrats will manage the project, but private interests will build it. The scheme will
00:02:54.480 give 25 billion dollars in loans, another 10 billion dollars in more low-interest loans and capital,
00:03:01.040 the distribution of which is not stated, and finally a billion dollars in equity financing, which
00:03:06.720 basically just means free handouts to developers. And here is where we get to the most alarming part.
00:03:13.280 When we look at the full report, again on the Liberal Party website, it's very clear from this document
00:03:18.560 that Mark Carney's plan is to build rental units. Now let's go to the details from the longer report. I'll
00:03:24.960 read here. It says, we will reintroduce a tax incentive which, when originally introduced in the 1970s, spurred
00:03:31.120 tens of thousands of rental housing across the country. Known as the multiple unit rental building
00:03:37.840 cost allowance, this policy helped produce nearly 200,000 units in seven years between 1974 and 1981.
00:03:45.600 It goes on to say, we will facilitate the conversion of existing structures into affordable housing units
00:03:52.160 by reducing the tax liability for private owners of multi-purpose rental when they sell their building to
00:03:58.160 a non-profit operator land trust or non-profit acquisition fund, so long as the proceeds are
00:04:03.920 reinvested in building new purpose-built rental housing units. The background document mentions the
00:04:11.520 word rental four times, but does not once state the word home ownership. Toronto housing expert,
00:04:18.720 Ron Butler, pointed out this disturbing detail on social media. Here's what he wrote on X.
00:04:24.320 Carney's housing plan. This stuff is totally nuts. Important fact, the word home ownership appears
00:04:29.600 nowhere. Yep, a housing plan without anyone buying homes. I have read every word of the explainer on
00:04:36.560 the website. Well, so did I. The whole document does not say home ownership at all, but it does say rental
00:04:43.840 several times. So the goal of Carney's housing scheme is not for Canadians to own homes. The plan is to build
00:04:51.040 homes for Canadians to rent. Remember the World Economic Fund goal for the future? Own nothing and 0.92
00:04:57.600 be happy? Perhaps that is Mark Carney's goal for Canada. We own nothing. He and his wealthy friends
00:05:05.120 control everything. So according to Mark Carney's plan, who's going to own these homes? Who will our
00:05:11.360 new landlord be? Could it be Mark Carney's former company, Brookfield Asset Management, the one he moved
00:05:17.600 its headquarters from Toronto to New York City to appease Donald Trump? Well, Brookfield does have
00:05:23.440 a property leasing division that operates in Canada. If you go onto Brookfield's own website,
00:05:30.080 they describe this entire division of their company. Here, I'll read from their website.
00:05:34.880 Brookfield Properties, which is a subsidiary of Brookfield Property Partners, itself under Brookfield
00:05:40.880 Asset Management, manages a diverse portfolio that includes office, rental, logistics, hospitality,
00:05:48.640 and multifamily residential properties. Their multifamily residential focus involves owning,
00:05:55.200 developing, and leasing apartment buildings, condominiums, and similar units, primarily in high
00:06:01.040 demand urban markets across North America. They manage over 42,000 multifamily units worldwide,
00:06:07.600 with over 9,000 more units in development. So unlike Brookfield Residential, which builds and sells homes,
00:06:14.720 Brookfield Property retains and manages properties for rental income. According to their website,
00:06:20.320 in Canada, Brookfield Properties operates multifamily rentals in cities like Toronto and Vancouver.
00:06:27.040 In the US, Brookfield Properties manages over 100 residential communities across 21 states. Brookfield
00:06:34.240 Residential is a North American land developer and home builder, headquartered in Calgary, Alberta,
00:06:39.440 Canada, and is a subsidiary of Brookfield Asset Management. Their core business is land development
00:06:45.360 and home building, where they design, construct, and sell single-family homes, townhomes, and multifamily
00:06:52.000 units like condos and apartments to buyers or investors. As of their 2023 annual report, Brookfield
00:06:58.560 Residential reported controlling approximately 74,000 single-family units across the US and Canada,
00:07:05.840 with total assets valued at $5.2 billion. Earlier this year, Brookfield acquired 2,165 apartments in
00:07:14.080 San Francisco, making it the city's largest landlord. So is that their plan for Canadian cities too,
00:07:20.800 to become our largest landlord? So it isn't a stretch to assume that they could be awarded
00:07:26.320 part or all of this new housing deal. Here is how NDP leader Dugmeet Singh described what Brookfield does.
00:07:33.280 You had a lot to say about Mark Carney and a lot about what he's done to cash in on this crisis,
00:07:43.120 you've said. What evidence do you have that Mark Carney has done anything unethical to take advantage of
00:07:48.640 this crisis? Well, the fact that he headed up Brookfield, and Brookfield is a large corporate landlord in
00:07:55.040 Canada that engaged in rent eviction. At a time when Canadians could not find affordable homes,
00:08:01.200 he saw a way to make more profit for his company. And now I don't fault him for making profit for his
00:08:07.120 company. I fault him for proposing that somehow the person that fed the housing crisis, that rent evicted
00:08:13.600 people, that jacked up the price of homes that were affordable, that bought up affordable homes,
00:08:19.360 then turned them into unaffordable places, that somehow that guy could be trusted to fix the housing
00:08:24.800 crisis. He cannot be trusted. He calls it rent eviction. So Brookfield buys up affordable units,
00:08:31.200 then renovates them to make them luxury units. They then sell those units for a big profit,
00:08:36.640 further inflating the housing market and locking out young families. Or they simply turn them into 1.00
00:08:42.000 rental units so that Brookfield can charge exorbitant rents and get perpetual recurrent on investment.
00:08:48.080 What he's going to do is what he's done his entire career, which is make more money for the super rich.
00:08:54.080 And it's going to hurt you and your family. That's what people need to know. And I'm going to point
00:08:58.160 that out every time I get. I can't believe I'm saying this, but Jagmeet Singh is right. Mark Carney
00:09:03.920 is just doing what he's always done, making more money for the super rich. So is the plan for Brookfield
00:09:10.320 to get the contract to build and own these homes with subsidies to the tune of $36 billion from Canadian
00:09:17.280 taxpayers? How much of a return on investment would that give to Mark Carney personally?
00:09:23.360 And how much would it give to his wealthy banking buddies? Why isn't the legacy media asking these
00:09:29.040 important questions or connecting these dots? Well, here lies the problem with Mark Carney.
00:09:34.880 Usually in a parliamentary democracy, citizens have multiple opportunities to get to know a candidate,
00:09:40.480 to vet their record and to scrutinize their character. In Canada, typically this is done
00:09:45.520 multiple times before someone would ever become prime minister. First at a local level by local
00:09:50.640 party members when someone runs for a nomination, then by the general public when someone runs to
00:09:55.840 become a member of parliament. And then again, when that person runs to become party leader,
00:10:00.080 typically after years of service and representing constituents as an MP.
00:10:04.880 But Mark Carney skipped all those steps. Rather than serving as an elected official in Canada,
00:10:10.720 he was appointed a central banker abroad. He worked for the World Economic Forum, the United Nations,
00:10:16.240 Goldman Sachs, and Brookfield, serving international interests and globalist financiers.
00:10:22.400 Carney was selected in a backroom deal. Liberal officials disqualified any candidate who stood in his
00:10:27.840 way. We were told that there were more than 400,000 qualified liberal voters, but inexplicably only
00:10:34.240 150,000 votes were counted. Typically, this vetting process would also uncover a person's personal
00:10:40.880 assets and their financial interests. Just how rich is Mark Carney? How did he make his money?
00:10:47.280 And where is his money invested? How many shares does he own in Brookfield? And how much does he stand
00:10:53.520 to make? Should Brookfield be given this housing deal? And it's not just me asking these questions.
00:10:58.640 Here's Robert Fyfe. He still hasn't told us what he's going to do. And we've been trying to get this
00:11:03.520 information and what you're going to do about putting your conflict of interest disclosures to
00:11:09.040 the public. They have ducked that over and over again. And there's a reason for this is that it
00:11:15.040 takes 60 days to declare once you become prime minister, 60 days to declare your conflict and 120
00:11:22.720 days to declare it to the public. If he bides by that, then the election will be over before we even
00:11:28.480 know what his financial interests are. So he's been ducking us a lot. He'll take two questions,
00:11:34.400 maybe three, and then they run away from us. We don't know, and perhaps we'll never know.
00:11:40.400 So is Mark Carney's plan to push a globalist agenda onto Canada, capping our energy, forcing a green
00:11:46.400 revolution, further impoverishing Canadians, making it so that we own nothing while personally making
00:11:52.400 millions or even billions of dollars through his own Brookfield assets? These are important questions
00:11:58.080 and Canadians deserve to have the answers. We deserve the truth. For Juno News, I'm Candace Malcolm.
00:12:04.320 Thank you, and God bless.