John Rustad slammed David Eby and the BC NDP over their promise to expand the 60/40 mortgage program, which gives middle-income British Columbians the option to have 40% of their mortgage covered for 25 years.The Conservative leader cast doubts on the plan, questioning whether it was a good idea to be sharing home ownership with "big daddy government."."Nothing like sharing the dream of home ownership with big daddy government," he quipped in a post on X, alluding to Housing Minister Ravi Kahlon's comment that "not everyone has the bank of mom and dad to help with a down payment to get their first home."According to the NDP, the program would make it so British Columbians only have to get approved for 60% of the market price when buying a home. The government would cover the other 40% as a second mortgage, which would be paid back after 25 years, or when the home is sold, along with a percentage of the appreciation. The plan would provide financing for up to 25,000 units over the next five years."Everywhere I go, families tell me they dream of buying their first home," Eby said, "but decades of rampant speculation in the market has put it out of reach for too many. Our plan will make that dream come true for thousands of first-time, middle-class homebuyers by substantially reducing the listing price and the mortgage you will pay."To qualify, individuals would have to be making under $131,950 per year, while the cap for families was set at $191,910.
John Rustad slammed David Eby and the BC NDP over their promise to expand the 60/40 mortgage program, which gives middle-income British Columbians the option to have 40% of their mortgage covered for 25 years.The Conservative leader cast doubts on the plan, questioning whether it was a good idea to be sharing home ownership with "big daddy government."."Nothing like sharing the dream of home ownership with big daddy government," he quipped in a post on X, alluding to Housing Minister Ravi Kahlon's comment that "not everyone has the bank of mom and dad to help with a down payment to get their first home."According to the NDP, the program would make it so British Columbians only have to get approved for 60% of the market price when buying a home. The government would cover the other 40% as a second mortgage, which would be paid back after 25 years, or when the home is sold, along with a percentage of the appreciation. The plan would provide financing for up to 25,000 units over the next five years."Everywhere I go, families tell me they dream of buying their first home," Eby said, "but decades of rampant speculation in the market has put it out of reach for too many. Our plan will make that dream come true for thousands of first-time, middle-class homebuyers by substantially reducing the listing price and the mortgage you will pay."To qualify, individuals would have to be making under $131,950 per year, while the cap for families was set at $191,910.
