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FIRST READING: Canada intervenes (again) to stop housing prices going down

Carney's condo 'bailout' just the latest government intervention to stop home prices from dropping

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FIRST READING: Canada intervenes (again) to stop housing prices going down Back to video

At the precise moment that a segment of Canadian real estate was poised to become more affordable, a Canadian government has once again intervened on the side of keeping prices high.

On Friday, Prime Minister Mark Carney announced that federal monies would be used to buy up a glut of unsold Vancouver condos into order to convert them into government operated rental housing.

At a Vancouver press conference held alongside B.C. Premier David Eby, Carney announced the launch of the Canada-British Columbia Partnership on Condo Conversion.

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