Housing Minister Under Fire for $10M Real Estate Holdings Amid Crisis

Federal Housing Minister Gregor Robertson is under intense scrutiny after the revelation of his $10-million real estate portfolio. Conservative MP Scot Davidson criticized Robertson in Parliament, accusing him of prioritizing his personal wealth over the needs of Canadians struggling to afford homes.

“Now we know why the housing minister doesn’t want home prices to fall,” Davidson said. “He’s sitting on a personal real estate empire while everyday Canadians can’t afford to own one home.” According to Vancouver journalist Bob Mackin, Robertson’s holdings include a $2.4-million Vancouver penthouse, a recently acquired $2.8-million estate near Tofino through his company 11 Otters Investments Inc., and a $5.6-million interest in a Squamish property.

Robertson responded by stating that all asset disclosures would comply with parliamentary ethics requirements. He dismissed the claims as inaccurate and maintained that his stance on housing is intended to protect the most valuable asset many Canadians own, their homes. “I was advocating for more government-subsidized affordable housing,” he added, while also clarifying on social media that homeownership remains a cornerstone of Canadian financial stability.

This controversy follows previous scrutiny of former housing ministers, including Ahmed Hussen, who rented out condos while in office. His successor, Sean Fraser, was appointed partly to sidestep growing criticism of politicians profiting from real estate. Reports suggest that nearly one-third of Liberal cabinet ministers own investment properties.

The debate reflects a broader crisis in Canada’s housing market. Investor ownership accounts for nearly 30% of all properties, with more than half of new condo units in Toronto and Vancouver purchased by people who already own homes. Critics argue that this trend drives up prices and reduces livable space, with new builds often criticized as “dog crates in the sky.”

Despite new targets by the Canada Mortgage and Housing Corporation to return affordability to 2019 levels, many argue that this benchmark still leaves cities like Vancouver among the least affordable in the world. As public frustration grows, Robertson’s financial interests may continue to cast doubt over his ability to lead meaningful reform.