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Jenny Kwan MP, goes after government for bailing out developers and speculators from their empty condo crisis.

By Sasha Izard
June 26, 2026

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NDP MP Jenny Kwan has taken the initiative and called out provincial and federal governments for bailing out on a massive scale developers and speculators from their self-created empty condo crisis.

As Kwan wrote in the following Facebook post (June 23, 2026):

Public funds should guarantee affordable homes for people—not guaranteed returns for developers and speculators.

Today, I sent an open letter to federal Housing Minister Gregor Robertson and provincial Housing Minister Christine Boyle urging them to immediately reconsider recent housing policies that bail out private developers at the expense of everyday British Columbians.

The federal government’s new “Condo Conversion” program plans to allocate billions of taxpayer dollars to buy up or convert unsold, investor-oriented condominium inventory. Meanwhile, local governments are being pressured to slash development fees and community amenity contributions.

When the housing market was booming, developers pocketed massive private profits. Now that the speculative market is cooling, taxpayers are being asked to shoulder their financial risks. This is fundamentally unfair and completely misses the mark.

The central problem in Metro Vancouver isn’t a shortage of high-end market condos—thousands of units are sitting empty and unabsorbed. The problem is a severe shortage of homes that working families, renters, seniors, and young people can actually afford.

Imagine what we could achieve if those billions were invested directly into constructing and acquiring permanently affordable public, co-operative, Indigenous, and non-profit housing. Furthermore, the federal government needs to step up as a true partner to British Columbia by providing ongoing operating subsidies for affordable housing projects—the Province cannot be expected to carry this load alone.

I am calling on both governments to take action on these critical priorities:

– Reconsider the Condo Conversion program and similar initiatives that absorb unsold private condo inventory without strong affordability guarantees.

– Deliver federal operating subsidies for affordable housing projects to partner effectively with the Province of BC.

– Restore and expand deep investments in public, co-operative, and non-profit housing.

– Establish clear, enforceable affordability targets for all federally and provincially funded housing programs.

– Provide full public transparency regarding beneficiaries, expenditures, ownership structures, and affordability outcomes.

– Ensure that public housing investments create lasting affordability for future generations.

British Columbians were promised bold, transformative action on the housing crisis. It’s time to put people ahead of speculation.

Read the open letter to the federal and BC Housing Minister.

@followers@topfansMark Carney Canadian Housing and Renewal AssociationAboriginal Housing Management Assn

MP Kwan’s post included the following letter that she had written to Gregor Robertson, the Federal Minister of Housing and Infrastructure on June 23, 2026:

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See also:

David Eby Before and After: How David Eby’s former criticisms of the political influence of the so-called ‘Condo King’ of Vancouver Bob Rennie, when Eby was a member of the opposition; turned once in power, to Eby becoming Rennie’s political follower.             – CRD Watch Homepage

The David Eby Confession:  Premier Eby talking to the ‘Condo King’ Bob Rennie, finally spilled the beans in front of the camera, on how UDI lobbying played key role in the creation of the Provincial Housing Bills. – CRD Watch Homepage

Index of articles revealing major lobbying influence on B.C. Provincial Housing Bills and Housing Targets. – CRD Watch Homepage