2,600 new homes to be sold at 60% market value in Vancouver
2,600 new homes to be sold at 60% market value in Vancouver
cross-posted from: /c/britishcolumbia
"For too long, the idea of home ownership has been out of reach for way too many people — people who earn a decent income, who are priced out of the market and do not see any path to home ownership," said Premier David Eby, speaking at the project unveiling on Thursday.
It's innovative. It's a great idea. A fantastic way to invest public money in housing. But it has to be done in conjuction with other measures that stimulates housing development.
in conjuction with other measures
From free standardized designs to building code changes to allow single stairways (Why North America Can't Build Nice Apartments) to fixing outdated zoning rules that pisses off the NIMBYs plus hundreds of other initiatives, Ravi Kahlon has been an amazing housing minister.
Eby said the 40 per cent from the province is not a grant or ongoing subsidy, but financing that is to be repaid at the end of 25 years, or when the owner sells.
Is that an exclusive or an inclusive "or"?
Exclusive or would mean that if the owner happens to sell at exactly 25 years, then there's no need to repay. It wouldn't make sense.
Based on the other comments, it sounds like you mean "and" rather than "xor"?