Bail on the Condo Bailout

Petition to the House of Commons

We, the undersigned citizens and residents of Canada, draw the attention of the House to the following:

1. That the Prime Minister announced a $1.45 billion plan to use taxpayer money to purchase approximately 2,200 unsold condominiums in British Columbia on June 19, 2026;
2. That this plan serves as a bail out of large developers, banks, and billionaire investors, many of which have ties to the Liberal Party of Canada and former Mayor of Vancouver (and current Housing Minister), the Hon. Gregor Robertson;
3. That the Government of Canada’s intervention artificially inflates the price of real estate in British Columbia, rather than allowing prices to moderate and settle into a new, more affordable equilibrium;
4. That this plan specifically hurts young Canadians and those trying to enter the housing market while lining the pockets of large developers who have already made billions over the past few years using taxpayer money;
5. That, as the condos are already built, this $1.45 billion expenditure of taxpayer money will create zero new units of housing;
6. That there is a lack of transparency surrounding this plan’s inception, financing, and goals;
7. That there are better policies available to increase affordable housing for Canadians.

Therefore, we, the undersigned, call upon the Minister of Housing and Infrastructure to: abandon this plan in its entirety, and commit to never bailing out large real estate developers and billionaire investors using taxpayer money.