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South Korea launches the 'Sae-Do-Yak Loan', a special low-interest loan program for diligent debt repayers, as part of broader efforts to accelerate debt restructuring and address concerns of reverse discrimination amid large-scale debt relief measures.
#YonhapInfomax
#SaeDoYakLoan #FinancialServicesCommission #DebtRestructuring #CreditCounselingRecoveryService #LowInterestLoan
#Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=90801

Special Loan Program 'Sae-Do-Yak Loan' Launched at 3–4% for Diligent Repayers—Debt Restructuring Accelerates

Yonhap Infomax

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Ms. Que Banh Aug 9, 2024

*Related to my post from yesterday.

#BCNDP's #HousingHub program is coming under #scrutiny after one #TaxpayerSubsidized #RentalBuilding in #Vancouver's #Kitsilano neighbourhood, touted as "affordable", is now listing units for $2,600 per month for a studio & $4,200 per month for a 2 bedroom unit.

The listed #RentalPrices are well above provincial #AffordableHousing thresholds & one #housing #researcher says it's an example of how difficult it is to build #AffordableRental buildings when market prices are so far beyond what average #renters can afford.

The leader of the #BCGreenParty called it an "infuriating" #misuse of #TaxpayerDollars.

The #BCNDPgovernment provided a $31.8 million #LowInterestLoan to Vancouver developer #JamesonDevelopmentCorp. for the 68-unit rental building through the HousingHub program, which is aimed at providing housing to middle-income renters shut out of the real estate market.

#BCPremier #DavidEby, who was the minister -responsible for housing at the time, was quoted in a December 2021 government news release announcing the project.

"Our government is investing in more affordable housing for people who work and live in Vancouver, and throughout B.C." he said.

The building at 1807 Larch St., called the L2, is set to be complete next month & is now advertising units.

According to the building's website, a 400-square foot studio apartment starts at $2,599 a month & a 840-square foot two-bedroom, two-bath unit is listed for $4,299 a month.

https://www.cbc.ca/amp/1.7288112

#YYJpoli #VanPoli #YVR #BCpoli #CDNpoli #HousingForAll #HousingCrisis #HousingFirst #EndCorporateWelfare #BChousing #Corruption #BCNDPFailures

B.C. HousingHub program touting 'affordable rentals' under fire

The now-scrapped HousingHub program was launched with the promise of spurring the construction of affordable rental units — but critics say the reality is very different, as one taxpayer-subsidized building is now offering rentals for up to $4,200 a month.

CBC