Prime Minister Mark Carney said the controversial $1.45-billion plan to buy 2,200 vacant condos in British Columbia and convert them into affordable housing should be judged on the economics of individual transactions, if they actually happen. (The Logic)

Talking point: Critics of the plan say the government is shielding developers from market losses at taxpayers’ expense. As of last month, 4,376 completed apartments in the Greater Vancouver region sat vacant, while foreign buyers remain barred from buying residential properties in Canada. Carney admitted the government has done a poor job explaining the program, which is part of a recently announced partnership with the B.C. government. He said there’s no specific deal the federal government is considering at this point, but if an opportunity arose to buy the condos at a discount, it would provide only 10 per cent of the financing. Carney said the goal is for families to move in under a “rent-to-buy” model, that will let people who can’t afford a downpayment eventually own the units.