Less than half at Concord Pacific line up qualify for home program

UBC economics professor Thomas Davidoff was interviewed for a Metro News story on a homebuyers program piloted by developer Concord Pacific.

Hundreds lined up to cash in a on a first-time homebuyers deal for a development in Burnaby, but less than half qualified for the program. Davidoff said though Concord is “subsidizing locals” through the program, the onus is not on developers to help people.

“If you have a restaurant and every night the line is so long that people don’t get in, you should raise your price because you’ll sell just as many meals and make more money,” Davidoff said.