"...we should also pay attention to making sure British Columbians can own a home."
-- No that's not the government job
“Owning the place where you live is part of what being a Canadian is all about,” 
-- No. That's not what Canadian all about

Do you know when it's US or California housing crisis start? George W. Bush talked about the same thing, American Dream... Everybody should own their home... Everybody should able to get a loan...

Now BC Premier just say the same thing. This policy will put more people that can't afford a house in GTA into homeownership and my guess is they are the last batch of "home buyers". Exactly like what we saw in US, a family income of $50K owned a $550K home and foreclose the next year in tears and say: If you knew we can't afford the house why lend us money? 

If you sit in a poker game, and in five minutes you can't find the patsy, you the patsy.
-- Warren Buffett

Life is pretty much same thing.