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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@mikeB.C. offers new down-payment loans to first-time homebuyers
SURREY, B.C. -- British Columbia's government wants to help first-time homebuyers get into the market by offering interest-free and payment-free loans for the first five years.
Premier Christy Clark says the government will provide first-time homebuyers with a 25-year loan for a down payment on a home to a maximum of $37,500, as long as the funds have been matched by buyers.
The program applies to homes with a maximum value of $750,000 and the interest-free portion of the loan will last for the first five years, with the repayment schedule at current interest rates over the remaining 20 years.
Clark said most people can remember how difficult it was to put together the money for a down payment on their first home.
"People need a partner in scraping together that first down payment," she said Thursday.
@rjuniorBC officially imposed a 15% “property transfer tax” on foreigners wishing to purchase property in BC. Premier Christy Clark has stated that the new property transfer tax would limit demand, making housing more affordable in Metro Vancouver. Which is, of course, utter poppycock. The tax will NOT work for three key reasons: 1) the tax is too easy to get around; 2) the vast majority of the non-resident investors buying up Vancouver real estate do not care about an extra 15% “property transfer tax” – they will see it as a cost of doing business; 3) the law is a violation of Canada’s investment protection treaties, including NAFTA