this post was submitted on 19 Sep 2024
31 points (100.0% liked)

Canada

7203 readers
222 users here now

What's going on Canada?

Communities

🍁 Meta

πŸ—ΊοΈ Provinces / Territories

πŸ™οΈ Cities / Local Communities

πŸ’ SportsHockey

Football (NFL)

  • List of All Teams: unknown

Football (CFL)

  • List of All Teams: unknown

Baseball

Basketball

Soccer

πŸ’» Universities

πŸ’΅ Finance / Shopping

πŸ—£οΈ Politics

🍁 Social and Culture

Rules

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:

https://lemmy.ca/

founded 3 years ago
MODERATORS
otter@lemmy.ca
31
2,600 new homes to be sold at 60% market value in Vancouver (www.cbc.ca)
submitted 1 month ago by LimpRimble@lemmy.ca to c/canada@lemmy.ca
10 comments fedilink hide all child comments
 

cross-posted from: /c/britishcolumbia

"For too long, the idea of home ownership has been out of reach for way too many people β€” 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.

you are viewing a single comment's thread
view the rest of the comments
[–] Someone@lemmy.ca 2 points 1 month ago* (last edited 1 month ago) (1 children)

It sounds more like a "whichever comes first, which I'd argue makes a lot more sense. The mortgage on the 60% would be paid off by 25 years and if you sell early you'd basically use any appreciation/the full value to pay back the 40%. In your scenario you could just immediately sell it and pocket the 40% for the next 24 years.

[–] HubertManne@moist.catsweat.com 2 points 1 month ago

see that is scary given where the person may or may not be in 25 years.