B.C. man says it's like free rent for 2 years while he saves to qualify for 1st mortgage.
B.C. man says it's like free rent for 2 years while he saves to qualify for 1st mortgageYou INDENTURE Yourself to be their slave until you pay off your home. They'll lie and say you have to pay more than if you are buying, because the master takes all the risk!
Canadian kids are being given a no choice option. You will own nothing and be happy.
No you're promoting it...probably at the direction of the PMO
Few and far between.
Caveat emptor. As JD said, this has been tried before and failed. Make sure you go over that fine print before signing.
You will own nothing, eat bugs and be happy
All sounds great till you factor in the cost to Canadian tax payers. This would create more government jobs, and are they going to buy homes that are for sale or build new homes for this project? What happens when people can't pay due to job loss or worse?
Group insurance overseen by government who hires contractors on standby to fix. Sound like the UK to you?
Will this save struggling homeowners hoping to retire on the (tax free) house appreciation they worked so hard for?
Klaus approves. You will own nothing; you will eat bugs and be happy.
Umm, isn't this the same 'concept' that led to the housing collapse in the US in 2008...& then the great recession of 2009?
Hopefully they will look after their homes.
Rent to own is almost as pathetic and as much of a ripoff as money mart.
It would help population growth also. Since it's the first time in history there are more people over 65 than 5 yr old children. Having secure and sound homes is everyone's dream. Who wants to bring children into a world of mayhem?
Another subsidy? This time for developers? What about renter-centric programs?
There are people who can make high rent but not able to save the downpayment. This could work for them.
Yeah let's blame 'bad credit' 🤔
People like me don't get mortgages
Let's take whatever the reason these people can't fix their own credit is and call that 'X' I don't care what you think X is But why won't X also be the reason they fail to keep up on rent-to-own payments? Won't they fall behind there too? If not, why not just fix credit? 🤨
No. We don't want your WEF new world where we own nothing. Get fucked cbc. You're nothing but state funded propaganda. Enemy of the people. 🖕🖕
Not a new concept. Some builders have done this in the past..works well
Geez, rent-to-own places existed years ago, why do you think it didn't flourish as a home buyers' option? Because there is a 'catch' or conditions that went along with it. Those first time homeowners need to really read those fine prints before signing any papers. IMO.
Jeebus… Winning a lottery to have a chance at a “rent to own” is not going to solve Canada’s housing crisis.
Thanks CBC for reporting on this, it's a great read. We have such programs here in the States but they are financed by private lending institutions with little or no government involvement. They have a very bad connotation associated with it. This program sounds vastly better.
Rent to own, is to be forever poor.
I would never sell my home on a rent-to-own contract. If they have bad credit, there is a reason and it sets homeowners up for getting screwed.
cc: CBCPitchbot
Foreign and corporate home ownership needs to stop.
GNadeauDubois QuebecSolidaire
How about we actually take a hard look at why home ownership is getting out of reach for so many people, instead of doing things that will ultimately (again) crash the mortgage market
'Canada is buying into' 😂