Crazy Schemes and Real Estate.
Some crazy schemes to keep that bubble inflated. Over at Househunt Victoria the question was asked about what businesses can do to encourage people to move to Victoria despite the high prices. Is the local real estate market proving a detriment to the ability of employers to find and retain employees? Are people bailing on Victoria now or refusing to move here based on housing unaffordability?
Well, the provincial government could follow the example of New Zealand, and offer to put in a large downpayment for first time buyers - say $200,000 - then take proportional ownership of the house. Kind of like buying a property with your friend, except you don't have to put up with them actually living with you. This is kind of courageous of the New Zealand government, as they are potentially exposing themselves to most of the downside risk of any declining housing market, which could easily wipe out some of the capital invested for these downpayments, if the market goes south anyway.
Or maybe not. Of course, the intent is to prevent any decline of the housing market, no matter what. Read about it here: New Zealand government to kick in 25-30% for first time buyers. A tip of the hat to Housing Doom for the info.
Meanwhile, here in BC, they have launched a program that will send pre-recorded, canned messages to anyone you suggest, encouraging them to move to BC: BC is Calling. I don't know if it will work, but getting a message exhorting me to move to lotus land from a luminary like Colin Hansen, 'cause you can find a great job just about anywhere in BC you'd like to live, that would likely tip the scales, to heck with whatever houses cost in Victoria or Vancouver or Courtenay or....wherever.
Do you know any other "crazy schemes" like these? Feel free to share them.
• 
• 
• 
• 
• 
• 319 reads
| |
Copyright © 2006–2009 by
clickcampaign marketing.
Some Rights Reserved.
Copyright Policy and Terms.
Designated trademarks and brands are the property of their respective owners.
Greg, thanks for the heads-up, and for addressing my query on HHV. These schemes are pretty wacky. First, I can't believe that NZ has to convince people to buy houses there, unless RE has gone completely bonkers there in the last few years too. I visited there 3 times over 10 years ago, and it truly is a terrific place. It certainly is "out of the way" but filled with natural wonder. Alas, I fear, however, that if the BC government kicked in 25-30% of the cost for FTBs, house prices would still rise to take that bonus into consideration.
I saw the "BC is Calling" ad in the Victoria Snooze last night. It's an interesting gimmick, but I wouldn't be changing jobs if some recording called me..! That scheme reminds me of the Bud Light "ApologyBot" that someone sent me a link to last week: http://www.budlightapologybot.com. Try it out for a laugh. (The Bot, not the beer.)
I asked the question about how companies can recruit people to come to Victoria because we are trying to recruit at my place of employment. As you might imagine, it will be difficult to do this in the current market climate, especially if our top candidate is coming from a smallish town and has a family. Our situation at work cannot be isolated.
Hopefully nobody at the BC Government reads blogs like these, wouldn't want anyone to propose the government cough up millions to distort the housing markets further - mind you, sellers would love something like that...
Post new comment