When Premier David Eby and Prime Minister Mark Carney announced their governments will spend $1.45 billion buying up 2,200 of British Columbia’s unsold condos and turning them into rent-to-own housing, the response was unambiguous. “Everyone kind of hated it,” says Marc Lee, senior economist with the Canadian Centre for Policy Alternatives. “I feel like this was something that they had maybe sketched out on the back of a cocktail napkin. It wasn't supposed to go public, and then it did.” On this episode, Marc joins us to try to make sense of this quote-unquote condo bailout. Is there any chance it might actually work? Or, instead of trying to fix the housing market, are we better off bypassing it altogether?
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