The VSun's Dan Fumano had an interesting story on the Clarklandian's Condo Bubble Re-Inflation program yesterday.
Fumano has been talking to mortgage insider types about the thing and has come to the conclusion that many of them categorize the loans as debt that will be folded into the total deal.
Which is most interesting on a whole lot of levels if you think about it.
Not the least of which is that, ultimately, this won't help anyone who is truly struggling to buy their first home make the nut.
Which, according to the VSun's Mr. Fumano lead one of the 'insiders', a fine fellow named Chad Oyhenart, managing director of DLC Canadian Mortgage Experts to state the following about the Clarklandians 'motives':
...Oyhenart said the program may be more about “pomp and circumstance” than about helping people.
“The B.C. government here, is obviously doing what they can, coming into an election year,” Oyhenart said. “Whether it’s viable or not, it doesn’t even matter … The government can still say ‘Hey, we’re trying our best here to help everybody get in to a home here in B.C.’ … It just makes them look like good guys.”...
Kinda sounds a little bit like that time that Christy Clark said she and hers all 'say things' to get elected.
Which is all fine and good.
Except that, at the moment at least, Ms. Clark is being paid by the public* to govern rather than just make stuff up to get elected.
*And, to be clear, I'm only talking about the portion of Ms. Clark's salary paid for by you and me...As for that other portion?....Well...