Poilievre asks Parliament to probe B.C. 'condo bailout,' says it's blocking 'a price correction'

Poilievre asks Parliament to probe B.C. 'condo bailout,' says it's blocking 'a price correction'

Ottawa has proposed converting unsold condos in B.C. into affordable housing

Conservative Leader Pierre Poilievre is calling on Parliament to probe Ottawa's proposal to convert unsold condominium units in British Columbia into affordable housing.

In a letter to the House ethics committee, Poilievre says a program to possibly help finance the purchase of 2,200 vacant condos amounts to a "condo bailout" for developers, bankers and investors.

Prime Minister Mark Carney says the idea is to support Canadians needing housing, but Poilievre says the Liberals are intervening in the market to help developers who built too many condos that didn't fit demand.

Carney has said his government did not explain the program well when he announced it on June 19, saying it is part of the B.C. government's plans to to help homebuyers struggling to save for a down payment.

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Poilievre says the proposal will instead prop up high prices as it "prevents a price correction from taking place," and he argues there are inconsistencies in how the project came about.

Housing Minister Gregor Robertson's office did not have an immediate comment on the letter, which was sent to the Conservative who chairs the committee, which has a majority Liberal membership.