David Eby Says 'The Plot Got Lost' on B.C.'s Condo Buyout Plan
David Eby says critics misunderstood B.C.'s condo buyout proposal, insisting the focus is affordable homeownership rather than rescuing developers.
BC Real Estate
✍️ By Debbie Balfour | Langley News | June 26, 2026
When British Columbia Premier David Eby and Prime Minister Mark Carney first announced a plan to purchase thousands of unsold condominium units, critics quickly labelled it a taxpayer-funded bailout for struggling developers.
Now, Premier Eby says that's not the story British Columbians should be focusing on.
Speaking to reporters this week, Eby acknowledged that the original announcement left many unanswered questions, stating that "the plot got lost" because details of the program were not yet available. He suggested the federal government was eager to announce the initiative before the full framework had been finalized, allowing critics to define the narrative before the government had fully explained it.
According to Eby, the objective is not to rescue developers but to help middle-income families enter the housing market through affordable rent-to-own opportunities. Rather than allowing newly built condos to sit vacant, the province says it intends to purchase qualifying units at discounted prices and convert them into homes that would otherwise remain out of reach for many British Columbians.
That distinction is important.
If governments are purchasing completed homes below replacement cost, some economists argue taxpayers could receive long-term value while increasing affordable housing without waiting years for new construction. Others note that empty inventory also discourages lenders and investors from financing future housing projects, potentially slowing construction even further.
Critics, however, remain unconvinced.
They argue that regardless of how the program is described, public money is still being used to purchase homes that private developers were unable to sell. Organizations such as the Canadian Taxpayers Federation maintain that the proposal shifts private market risk onto taxpayers and could encourage future developers to expect government intervention if projects fail to perform as planned.
Ultimately, much may depend on details that have yet to be released.
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What discounts will governments negotiate? Which developments will qualify? How will buyers be selected? And perhaps most importantly, how will taxpayers measure whether the program has been successful?
As more information becomes available, the debate may shift from whether this is a bailout to whether it delivers measurable public value.
For now, Premier Eby has made his position clear: he believes the conversation should be about creating affordable pathways to homeownership—not rescuing developers. Whether British Columbians embrace that explanation may depend less on political messaging and more on the results the program ultimately delivers.
Debbie Balfour | Real Estate Investing Success Coach + Podcast Host
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