Quote:
Originally Posted by rubecube
At the cost of $700M to the taxpayers. And sorry, I'm not a huge investment guru, but isn't the whole "more equity" bit contingent on the housing market?
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It's not really a cost to the tax payer the way you're thinking it is. It comes from a 2 billion dollar pile collected from land transfer taxes, luxury real estate taxes and some other source directly related to the real estate market. It's rich people money!
It doesn't take a huge investment guru to figure out that the real estate market may go up or down in five years. All things being equal building up equity for free is a smart thing. If you think/secretly hope everyone starts losing money in a massive crash and burn then that's a different topic.