The backlash came fast and furious, and with greater velocity than perhaps at any other moment in Mark Carney‘s tenure as prime minister.
The Liberals’ proposal last week — to put up 10 per cent of roughly $1.45 billion for the acquisition of unsold B.C. condos which in turn would be sold at affordable rates on a rent-to-buy basis — was rapidly condemned by critics as a “bailout” — evidence not only of political perfidy, but also ideological gymnastics on the part of a former central banker who, once upon a time, cautioned against this kind of moral hazard. (Carney himself acknowledged the reveal was a case study in miscommunication)
