VANCOUVER IN CHAOS As 2,200 Finished Condos Sit Empty — And Taxpayers Are Buying Them

🔔 Subscribe now for more breaking stories on the housing crisis — new videos every week! Metro Vancouver is facing a housing paradox that's dividing economists and politicians alike 🏙️. As of May 2026, over 4,300 completed condos sat unsold across the region, part of a broader spike that saw unsold inventory jump 76% in a single year. Now, instead of letting the market sort it out, the federal and B.C. governments have stepped in with a plan to buy more than 2,200 of those empty units directly. This video breaks down the Canada-B.C. Partnership on Condo Conversion, a roughly $1.5 billion program announced by Prime Minister Mark Carney and Premier David Eby to purchase unsold condos at below construction cost and convert them into affordable housing 💰. We dig into why developers say they never actually asked for this deal, why critics are calling it a taxpayer-funded bailout in disguise, and why the plan pointedly excludes the City of Vancouver itself, where prices remain too high for the math to work, instead targeting places like the Fraser Valley and Tri-Cities where empty inventory has piled up fastest. We also look at what this glut of unsold new construction says about the real state of Vancouver's housing market, and whether buying up empty condos actually solves the affordability crisis or just papers over it. If you're following Canada's housing crisis, this is one of the most consequential stories developing right now. 🙏 Please like and subscribe for more housing and economics deep dives, and turn on notifications so you never miss a new upload.