. . . . Thomas Davidoff, associate professor at the UBC Centre for Urban Economics and Real Estate, describes the plan as “small ball.” Davidoff also contributed the same study as Somerville.
He said that the rent-to-own program and elimination of the property transfer tax are geared towards individuals who are “almost at the finish line into homeownership.”
“But what about people who are never going to get to the finish line, like homeless people or low-income households who, down payment or not, aren't going to be able to make mortgage payments? I would think those are the people in the most need. So, it's a little weird to focus so much assistance on the middle or upper middle of the income distribution,” Davidoff said.
In response, Falcon said that this will aid individuals who don’t have access to the “bank of mom and dad” . . . .
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