Monday, September 15, 2025

‘Condo King’ Reveals Plan with Carney to Use CMHC for Foreign Rental Investments

A plan to use Canada’s state-owned mortgage insurer to attract foreign investment into rental properties is being developed, according to comments from Vancouver real estate developer Bob Rennie, who says he is working with newly elected Liberal Party leader Mark Carney on the initiative.

Rennie, known as Vancouver’s “Condo King,” revealed on a recent episode of ConversationsLive podcast that he is collaborating with Carney on developing a rental investment program that would involve the Canada Mortgage and Housing Corporation (CMHC).

“[I’m] working with Carney, surprise, and I’m trying to get a rental program in where people can buy, put it into a 25-year pool, a preferred rate from the CMHC, and let’s allow foreign buyers to buy it, they have to rent it out for 25-years,” Rennie said in the interview.

The proposal would leverage government backing to help foreign investors purchase Canadian properties that would be committed to the rental market for 25 years, according to Rennie’s description.

The CMHC has previously cautioned about government intervention in mortgage financing. According to public documents, the agency warned the Government of Canada that directly funding mortgage credit may lead to a net loss, since it competes for capital in the market.

If confirmed, the program is a pivot in how the CMHC’s resources would be utilized. The agency was originally established to help Canadians become homeowners but has evolved in its mandate over time.

Canada’s housing market continues to face affordability challenges in major urban centers, with cities like Toronto and Vancouver experiencing high prices relative to local incomes.

Carney, who previously served as governor of both the Bank of Canada and the Bank of England before recently becoming Liberal Party leader, has not publicly commented on the proposal described by Rennie.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Carney Is Already Changing His Tune On Energy Pipelines

Prime Minister Mark Carney appears to be re-evaluating his stance on pipelines as the centerpiece...

Tuesday, April 15, 2025, 11:24:00 AM

CMHC Rings Alarm on Canada’s Deteriorating Housing Affordability

Canada Mortgage and Housing Corporation (CMHC) chief economist Bob Dugan expressed concerns over the deteriorating...

Monday, June 19, 2023, 04:11:08 PM

Liberal Backbenchers Reportedly Push Secret Ballot Reform, Testing Carney’s Grip

An alleged brewing rebellion within Liberal ranks is poised to test Prime Minister Mark Carney’s...

Thursday, May 22, 2025, 03:43:00 PM

Canadian Housing: CMHC’s Secret Borrowers

The Canada Mortgage and Housing Corporation (CMHC), the Crown corporation responsible for administering Canada’s National...

Tuesday, November 15, 2022, 06:58:00 AM

CMHC: Housing Starts Plummet 23% in May

The CMHC on Thursday reported that housing starts across Canada decreased by 23% in May,...

Thursday, June 15, 2023, 09:19:41 AM