The Washington Post published a Bloomberg story on B.C.’s first-time homebuyers loan program. Tsur Somerville and Thomas Davidoff, professors at UBC Sauder School of Business, weighed in on the program.
Somerville said the program will mean higher home prices if there isn’t an increase in supply.
Davidoff said Premier Christy Clark must not have consulted an economist before announcing this program, since poor homebuyers may end up paying higher property taxes than they would have without the loan.
The story also appeared on MSN and Financial Post. Similar stories appeared on MSN, Maclean’s Vancouver Sun, The Province, Calgary Herald, and Georgia Straight.
Davidoff also spoke to News 1130 after an Insights West poll found many people want taxation on foreign investment.
