Sky News host Alan Jones says the government has "wiped its hand" in taking responsibility for the costs associated with the aftermath of the Mascot Towers building debacle - where apartment owners stand to lose an exorbitant amount of money.

"Mascot Towers, with 132 units in it, was built in 2009. Without going into detail, as you know, this stuff is all signed off by building inspectors and everybody - an owner is entitled to believe that everything is fine," he said.

"Innocent people paid a million dollars and more for an apartment. But residents had to evacuate in June 2019 after cracking was found in the primary support structure and façade masonry, sparking fears the building could collapse.

"My understanding is the future of the building itself will be decided at an extraordinary general meeting at the end of this month.

"Gary Deigan, the Owners Corporation Chairman suggested the Government buy the building at a discounted price and convert it into affordable housing.

The Minister for Better Regulation, what a misnomer that is, it is government regulation that gave this unit block the tick of approval, but government wipes its hand.

The NSW Minister, Kevin Anderson, has refused requests for assistance, "The ball is very much in the court of the Owners' Corporation."

Mr Jones also spoke with Mr Gary Deigan, Chair of the Owners Corporation, who said to repair the building and payback the strata loan would cost $64 million - meaning owners would be paying "$2000 per week for 15 years"

"That figure of $54 million is now $64 million which means that a three bedroom apartment owner would be paying $2000 per week for the next 15 years," he said.

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