2,200 Empty Condos, $1.45B Price Tag: Carney Defends BC Rent-to-Own Plan as 'Affordability,' Not Bailout

Prime Minister Mark Carney clarified on June 25, 2026, that a controversial British Columbia housing proposal is designed to help aspiring homeowners rather than rescue developers from financial distress. Speaking at a news conference in Ottawa, Carney addressed criticism surrounding a plan to potentially finance the purchase of approximately 2,200 vacant condominium units across the province. The federal government would contribute roughly $145 million—representing 10% of the total $1.45 billion program—with the BC government funding the remaining 90%. These units would then be made available to Canadians through a rent-to-own framework, targeting buyers who struggle to accumulate down payments in Greater Vancouver's prohibitively expensive market.