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Canadian Urbanism Uncovered

If We Have a Housing Shortage, Why Are We Buying Empty Condos?

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Prime Minister Mark Carney and Premier David Eby recently announced a plan to purchase vacant condominium units and convert them into affordable housing through a proposed rent-to-own program. Details remain unclear. We do not know how many units will be acquired, expected discounts, how financing will be structured, or how the rent-to-own model will work. The announcement immediately sparked criticism. Some described it as a bailout for developers struggling to sell units in a cooling... Read more

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