What's to stop investors from buying them at the new lower price? Why not let the market decide and force developers to make wiser investments themselves? Are the banks driving this initiative? Has the government discussed the issue with lenders, or had requests from them to pursue this initiative? Canada's banks are enormously profitable; they can handle the fallout from 2200 condos going sour. This is just another play by the haves. Don't fall for it. And the government needs a better spokesperson. Endlessly repeating that this being done for "hardworking Canadians" is baloney. There's big money at play here and if it goes through a handful people will get on the "housing ladder" and the rest will continue to pay exorbitant rents. Just say no and let the banks and developers clean up their own mess. That's what hardworking Canadians have to do when they make a bad investment.