Poilievre asks Parliament to probe B.C. ‘condo bailout’ blocking ‘a price correction’

OTTAWA — 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 18, saying it is part of the B.C. government’s plans to help homebuyers struggling to save for a down payment.