By 2003, the B.C. Homeowner Protection Office had identified about 65,000 leaky condos across the province.
The Canada Mortgage and Housing Corporation defines leaky condos as a "catastrophic failure" of building envelopes, which lets water into the building frame and leads to rot, rust, decay and mould.
The crisis was caused by a combination of poor design and shoddy construction during a building boom. Many homeowners, suddenly facing thousands of dollars in repairs, went bankrupt. The crisis is said to have cost the B.C. economy billions of dollars.