Yeah, that'll cool down the overheated housing market.  Let's inject more buyers into the market who couldn't otherwise afford to be there.

Since the Premier of BC never actually graduated from any university, she can perhaps be forgiven for not understanding the rudiments of economic theory relating to supply and demand.  So here ya go Ms. Clark:  if you increase demand (more willing buyers with cash) you put upward pressure on prices.  If the supply is relatively inelastic (shortage of affordable housing for first time buyers) that upward pressure must result in an increase in prices.

Tell us again Ms. Clark how this program solves any problem.