Letters to The Vancouver Sun: Governments shouldn't pay a dollar more for condos than any other buyer would

Premier David Eby and Prime Minister Mark Carney make an announcement about housing on June 18, 2026 in the River District of south Vancouver. Photo by Government of B.C.

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The answer to the question is that it’s a “bailout” for a developer unless it’s an extremely good deal for the taxpayer.

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If a developer cannot sell units, the business should be allowed to go bankrupt, like any other business. If units can’t sell, it means that their offered prices are above their current market values or they are not well designed for the local market. Until the last few years, real estate development was an incredibly profitable business to be in. In a rising market, it was not hard to make a profit, provided a developer was able to secure a good location and to keep its costs down.

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If a developer loses millions on a project, that is a business risk. Like any other business venture, sometimes you make money, sometimes you lose money.

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If developments go bankrupt, it may make sense for a government to bid for buildings for social housing at their distress values. A government should take advantage of an extremely good deal for units for use as social housing. However, governments should not pay a dollar more than other buyers would pay given market conditions. All such purchases should be subject to value-for-money audits and public disclosure.

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John Shepherd, Richmond

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Developers should in no way be subsidized

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Re: B.C. and Ottawa plan to snap up vacant condos

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It is too bad this program has been made public before all the details have been fully worked out.
My belief is the developers need to feel some real pain and should in no way be subsidized by the Canadian taxpayer.

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Let’s closely examine what Singapore has done — it has one of the highest home ownership percentages of any developed country with clear restrictions in place for purchase requirements and re-sale conditions.

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Jim Bayles, Vancouver

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Front-page photo one for the history books

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Re. Soccer fans rejoice as Canada claims its first World Cup victory

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Nick Procaylo’s page one photo Friday, June 19, of the red tide on its way to B.C. Place is absolutely brilliant. That’s one for the Vancouver history books.

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Larry Emrick, Vancouver

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Happy to see columnist Palmer recognized

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Re. Sun columnist Vaughn Palmer receives 2026 Michener-Baxter award

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How wonderful that Vaughn was recognized for his excellent journalism. He is one of the main reasons we subscribe to The Vancouver Sun. We trust and appreciate his commentary.

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Silvia Dyck, Chilliwack

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Delightful to see Fraser Street highlighted

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I must say, it was delightful to see Fraser Street highlighted as a place to eat. It’s also a great place to shop for staples like dried goods and spices and affordable produce. And to live, which I have done for over 40 years, and my parents before me since the early 1950s.

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“I’m going up Fraser” is something my mom and I say to each other almost daily.