A housing advocate says P.E.I.’s new rent-to-own program will help some Islanders, but warns that easing the path to home ownership shouldn’t be the only government priority when it comes to ensuring people have a decent place to live.
Fleshing out a program announced in the province’s latest budget, the King government said last week that Finance P.E.I. will buy eligible homes and rent them back to Islanders as part of a program with a total value of $17.5 million this fiscal year.
The government is touting it as a way to bring buying a home within reach of people who can’t make a down payment due to the rising cost of acquiring a property on P.E.I.
