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

Hate Speech Sentences

2


Summary


Transcript

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
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
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.