Real Estate discussions

[jollyburger]

Developers don't like the program so it must be good.

B.C. developers say they don't want a buyout for empty condos

B.C. Housing Minister Christine Boyle said the goal of the condo program is to allow people to purchase a home who would not have been able to do so previously.

She said it wasn’t surprising that developers aren’t supportive of the idea, given it won’t help them.

“The development sector has made clear this isn’t what they asked for, because, as I and the premier have said, developers won’t benefit from this,” said Boyle.

“I hear often from people who are working a good job, they’re making a good income, often they’re paying in rent what they would be paying on a mortgage. But because they don’t have help from the ‘bank of mom and dad’ or other sources to be able to save for downpayments, they’re locked out of home ownership. The program we’re designing looks to support British Columbians like that of all ages.”

https://vancouversun.com/business/real-estate/bc-developers-dont-want-buyout-for-empty-condos