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Just days after Canadians blasted Mark Carney and David Eby's controversial condo bailout plan, both leaders appear to be changing their tune.

When the proposal was first announced on June 18, Carney pitched it as a plan to use public financing to acquire up to 2,200 unsold market condominiums in Metro Vancouver.

"Looking out at condos that have been built, that are unoccupied, that are going to sit there potentially for another couple of years; we are going to go and use the right financing mechanisms and convert those into affordable housing so people can move in and use those," said Carney.

David Eby and the NDP wants to use taxpayer dollars to buy up thousands of overpriced shoebox condos that British Columbians don’t want. This isn’t a housing plan, it’s a bailout that props up failure while ignoring the real solutions: cut red tape and build homes people can… pic.twitter.com/ps2WtBeWUg

— Kerry-Lynne Findlay (@KerryLynneFindl) June 25, 2026

Carney also acknowledged that developers are "stuck" and "don't want to sell at a loss," adding that further "models" would be released in the fall.

Critics say that's exactly what a housing correction is supposed to do. If developers are forced to lower prices to attract buyers, those lower prices can ripple through the market, putting pressure on comparable properties and gradually improving affordability.

The announcement was quickly criticized as a taxpayer-funded bailout for developers and investors holding unsold condo inventory, particularly after years of Vancouver being ranked among the world's least affordable housing markets, and just as the market had begun showing signs of cooling.

Conservative Leader Pierre Poilievre questioned why ordinary Canadians are left asking, "Where's your bailout?" while accusing Carney of having "a bailout for anyone who's part of the Liberal club of power brokers."

CONDO BAILOUT BACKLASH:

Premier David Eby just distanced himself from Mark Carney's plan to bail out developers by buying their overpriced, empty Vancouver condos.https://t.co/6BWILoPTDP pic.twitter.com/MUih0S8D4i

— Drea Humphrey (@DreaHumphrey) June 25, 2026

Now, however, both Carney and Eby appear to be reframing the proposal.

When pressed by reporters on Thursday, Eby suggested the original announcement got ahead of itself.

"The federal government was enthusiastic about us announcing this before all of the details were out, but in the absence of all the details, the plot has been lost a bit here," he said.

Eby also attempted to distance the proposal from the criticism that it would rescue developers.

"If you are a condo developer and took a bet on the high end of the market and you're facing a significant potential loss of profits, what we are proposing will not assist you."

Instead, Eby now says the province's intention is to seize an opportunity to "buy products below the cost of construction... and make them available through a rent-to-own program for British Columbians."

He also acknowledged, "the market will correct itself in Vancouver."

Carney likewise shifted his description of the proposal, suggesting it was "the province of British Columbia which initiated the idea," while now characterizing the plan as purchasing "distressed condos" at a discount and "setting up a rent-to-own structure for truly affordable housing."

CARNEY’s CONDO BAILOUT:

Carney claims the idea was initiated by B.C.

And all of a sudden it’s been a rent to own project. pic.twitter.com/QJy0E4UVr7

— Drea Humphrey (@DreaHumphrey) June 26, 2026

Those explanations differ noticeably from the initial announcement, which focused on using financing mechanisms to acquire unoccupied condos in Vancouver whose developers, by Carney's own admission, were "stuck" and "don't want to sell at a loss."

Whether the latest explanation represents a clarification or political backpedalling is something Canadians can decide for themselves. But if the public response is any indication, many aren't buying the new sales pitch and want the average Canadian to come first.

"If you're going to do something innovative, do something that actually helps everyday people in British Columbia get ahead," Hepner told Rebel News, suggesting governments should reduce red tape, lower development costs, or eliminate GST on home purchases instead of intervening in the condo market.

If you believe governments should help homebuyers instead of bailing out developers and investing in the luxury condo market, visit StopTheCondoBailout.com and sign the petition today.