A8 - Sunday News, September 27, 1981 Beemaihon x Dear Editor: - Housing is in crisis in Canada and it needn’t be. All wei have to do is keep the monthly payments down and governments can help us do this in the 1980s. y favour a.joint equity or share ownership plan. Under - the Provincial Government would put up d of the cost of a new -in a partnership whi - would last -for five ¥ athe home would be: financed with Victoria converting its equity into a second mortgage — one lasting, ~ $ay,.20 years and bearing i interest at the B. Cc. Government’s “cost of money”. Because the Provincial Government would be a partner of the new home owner for the first five years .it couldn’t demand any payments either of principal or interest, during that interval. Monthly payments would therefore be less. They would be about two- thirds of what they are today: ‘In y order to break even over the long run_ the government's one-third share would have to be -recovered at its true, fifth year-end market value. Paid off as a second mortgage at favourable government borrowing rates this arrangement would still be a bargain. And remember that the new home owner will be earning more. He or she will be in a better position to re- finance their home at the end of year five than they were at the beginning of year one! There are those, of course, who will say that this shared ownership plan is socialistic in nature. True, the Government will be a part owner of the new home for a time. But the period is fixed. It is 60 months long. And the net result of the plan, if it is continued for any length of time, will be that more British Colum- bians own their own home. Nothing can be more capitalistic than that! This plan, like many government backed plans, uses the credit of society as a whole. But it increases private ownership in the process. It is the kind of plan, therefore, which Social Creditors can endorse. It is populist policy at its best. Large amounts of capital will have to be raised in the early years. The B.C. Government, if it backed a plan of this type, would have to borrow upwards of $1 billion if it was going-to keep home construction going flat out. But after five years money would also be coming back. It would come back at higher market values plus interest. So the fund would be self-sustaining in the long run. No subsidies in other words. No new taxes cither. We don't have much choice, really. If the Provincial Government is prepared to invest $1 billion. im an export venture like Northeast Coal, then it has the same kind of money or more for housing. A plan, like this, will create far more jobs in B.C. Also it fills an urgent need. It can benefit British Columbians im- mediately and in a very meaningful way. So ... Victoria ... let us show Canadians in other provinces how it is done! Jack Davis, MLA North Vancouver-Seymour Pet care in emergencies Dear Editar: The Vancouver Regional Branch of the British Columbia Society for the Prevention of Cruelty to Animals is once again cx- tending its ‘‘SPCA Emergency” program. Last year 50,000 “Pets Live Here Too” decals were distributed to pet owners throughout the Lower Mainland. The decal, when posted near or on the front door, indicates, in the event of an emergency. that pets normally reside in the house concerned and that the special SPCA emergency telephone number (879- 7343) should be called to handle any associated non- human problems. This year we are distributing the SPCA “Emergency Alert” card. When affixed to a driver's license or primary picce of identification, the card will indicate, to the proper authorities, the name and telephone number of an individual who will be ablic to care for the owner of the card's pet(s) in the event of an emergency. Both “Pets Live Here Too” decals and SPCA “Em mcy Alert” cards can be obtained at all Branch Shelters and Animal Clinic for a donation to help cover production and operational costs. For more information, please contact me at 879-3733. Ken Hemmerick Administrative Assistant B.C. SPCA Stuart’s “Quality Baked Goods” & Delicatessen (of Granville island Public Market fame) OPENING THIS WEEK ON THE NORTH SHORE ‘*The Village’’ Edgemont & Queens 986-0961 Park Royal North Mall 922-6055 = ‘GM Service Centre TRY US! .... TRY OUR SYSTEM! No Appointment Necessary No Waiting .... Immediate Service Competitive Rates . 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