Re: Project Build Society
On the surface, this sounds very noble, but did you not hear what caused the housing bubble in the U.S.?
This is just more of business and politics trying to stimulate the economy through debt, making the rich richer, and the poor poorer, destabilizing the world economy.
A young couple should not be encouraged with a starter home of $400,000. If they can afford payments on that amount, they can certainly afford a market-starter home on their own.
Or, when interest rates rise, they better be making substantially more than they are now, or their dream home is gone.
I agree that there is a “desperate need for affordable housing,” but this is not affordable housing just because you are handing over a $40,000 down-payment.
And if council thinks, “this works very well with our affordable housing strategy,” they too need an education in the real economy. Is this an indication of how they spend our tax dollars too?