🇨🇦 Privatize gains, nationalize losses

Mark Carney and David Eby want taxpayers to mop up 2,200 unsold B.C. condos while pretending it is affordable housing policy. There are more than 4,000 unsold units in Vancouver, TD expects a 15 per cent peak-to-trough price drop by mid-2027, and Ottawa still refuses to say whether these units will be bought at market price, at a discount, or with what magical innovative financing toy box, as reported. Translation: the public takes the risk, developers get an exit ramp.

This is Trudeau-era economics with Carney branding. Flood the country with demand, choke real supply with bureaucracy, inflate a housing bubble, then call a bailout compassion when the bubble wobbles. Gregor Robertson says empty condos must be put to use because homelessness is soaring. Right, and whose immigration-addled, debt-fuelled model helped break housing in the first place. If Ottawa wanted national-interest housing policy, it would stop subsidizing failure and stop importing pressure into an already cracked market. Instead we get corporate welfare wrapped in moral preening.

🍁 Maple Chronicles