Quote:
Originally Posted by Tapioca
To be honest, I didn't think that the program would have much impact. The actual number of people in Metro Vancouver that have applied and been approved is quite low (a mere couple of hundred). But given that supply is very low for desirable entry level homes (condos that are in Vancouver or adjacent to Skytrain stations), the program has had some impact.
If you hang around finance blogs long enough, you become convinced that everyone is completely rational and rents + saves the difference. The reality is far different though.
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It's possible. I don't be know much about the program but I would assume that everyone's greedy and if govt is helping out for a home up to $750k, everything below that would see a jump in price.
Logic is to rent and invest, and everyone always suggests this. The amount of people that actually do it is probably super slim. When you have disposable income sitting in your bank, the last thing people think of is to invest when they can spend it on the newest gadgets, cloths, cars, or bars/eating out