Blacklock's Reporter

Condo speculators in Metro Vancouver caught with thousands of unsold units should be allowed to fail, says a Commons petition sponsored without comment by Conservative MP Dan Albas (Okanagan Lake West-South Kelowna, B.C.). Petitioners opposed a $1.45 billion bailout of developers at taxpayers’ expense: “Unsold units should be allowed to fall to prices that households can afford through open market discounts, credit or losses, or receivership.”