Conservative Leader Pierre Poilievre has called on Parliament to hold hearings into the federal government’s proposal to convert unsold condominium units in British Columbia into affordable housing. In a letter sent to the House ethics committee, Mr. Poilievre characterized the plan as a “condo bailout” benefiting developers, bankers, and investors rather than addressing housing affordability.

The program, announced on June 18 by Prime Minister Mark Carney in partnership with the British Columbia government, aims to help finance the purchase of approximately 2,200 vacant condominium units. These units would then be offered to Canadians under a rent-to-own model. Mr. Carney has stated the federal government would contribute 10 per cent of an anticipated $1.45-billion budget, with the remainder funded by the provincial government. The initiative targets condominium units in priority growth areas affected by higher interest rates and weakened market demand that have left developers reluctant to sell at a loss.

Mr. Poilievre criticized the measure for preventing a market-driven price correction, which would allow property values in the Vancouver area to adjust downward, potentially making housing more affordable for buyers. He argued the intervention props up inflated prices and forces taxpayers to subsidize developers who misjudged demand. In addition, Mr. Poilievre raised concerns about how the plan originated, citing conflicting statements from Mr. Carney and B.C. Premier David Eby regarding which government first proposed the initiative. He also flagged potential conflicts of interest, noting the involvement of developers who participate in Liberal fundraisers, and urged the ethics committee to examine the matter for any undue benefit.

The program has attracted scrutiny amid data from the Canada Mortgage and Housing Corporation showing that as of May 2026, there were 5,849 unabsorbed apartments across British Columbia, with Metro Vancouver accounting for 75 per cent of these vacant units. Premier Eby recently suggested the condo market’s oversupply would eventually self-correct without assistance to developers and emphasized that opportunities such as bulk purchases or bankruptcy proceedings could offer alternative paths for market adjustment.

Mr. Eby defended the proposed scheme as a potential means to acquire units below new-build costs and provide access to homeownership for British Columbians who might otherwise be shut out of the housing market. He acknowledged the plan could be abandoned but maintained it can be structured to avoid conferring undue advantages to developers, contrasting the approach with direct tax breaks, which he described as more akin to a bailout.

Federal Housing Minister Gregor Robertson’s office had no immediate comment on Mr. Poilievre’s letter. While parliamentary committees have the authority to summon witnesses and documents for accountability, they rarely convene during the summer unless dealing with urgent matters. The ethics committee is chaired by a Conservative MP, but it remains controlled by a Liberal majority.