Homes So Pricey That Government to Lend Down Payments

The BC government is offering loans to first-time homebuyers to help with down payments, aiming to address high housing costs in Vancouver. The program, funded through property taxes, seeks to balance the budget while aiding buyers affected by federal rule changes. November home sales data shows a decline in most cities due to these changes, with only Toronto expected to maintain growth. The initiative raises concerns about increasing debt among buyers.

What is the maximum amount the provincial government will match for first-time homebuyers' down payments?

• $75,000

• $50,000

• $37,500

• $25,000

How is the provincial government funding the homebuyer assistance program?

• Through federal grants

• By increasing income taxes

• By cutting other public services

• Through property taxes

What concern is raised about the provincial government's initiative to assist first-time homebuyers?

• It may lead to a housing surplus

• It could increase household debt

• It will decrease property values

• It might cause budget deficits

Which city is expected to continue its rapid sales and price growth according to the recent data?

• Vancouver

• Calgary

• Montreal

• Toronto

What was the impact of federal rule changes on home sales in November?

• Sales fell in two-thirds of surveyed cities

• Sales increased in all cities

• Sales increased only in Vancouver

• Sales remained stable