in World News Carney working with “condo king” to subsidize foreign buyers
Quinn Patrick, True North
One of Canada’s largest real estate developers, Rob Rennie, recently said he’s working with PM-designate Carney to allow foreign buyers to access a taxpayer-subsidized rental property development fund
One of Canada’s largest real estate developers, Rob Rennie, recently said he’s working with Prime Minister-designate Mark Carney to allow foreign buyers to access a taxpayer-subsidized rental property development fund.
Rennie, a prominent Vancouver real estate marketer who earned the nickname the “condo king”, outlined the initiative during a Conversation
Live panel discussion on Canada’s housing market.
Rennie claimed that he and Carney were working together to create a “rental program” open to foreign investors who want to build and buy homes domestically. To sweeten the deal, the Canada Housing and Mortgage Corporation would finance pre-sales and offer preferred rates.