Poilievre Demands Parliamentary Probe of $1.45B 'Condo Bailout': What Vancouver's 4,400 Unsold Units Mean for Buyers

Conservative Leader Pierre Poilievre has formally requested that Parliament's ethics committee investigate a federal proposal to convert approximately 2,200 vacant condominium units in British Columbia into affordable housing. In a letter dated Friday and posted publicly on Sunday, Poilievre characterized the plan—which involves roughly $1.45 billion in total spending with Ottawa contributing 10 percent—as a "condo bailout" designed to protect developers, bankers, and investors from financial losses. The request comes after Prime Minister Mark Carney announced the initiative on June 18, 2026, describing it as a rent-to-own framework to help homebuyers struggling with down payments, though Carney later admitted the government had not explained the program clearly.