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re: Harris to Propose providing 25k to new homeowners to help with down payment
Posted on 8/15/24 at 10:06 pm to HailHailtoMichigan!
Posted on 8/15/24 at 10:06 pm to HailHailtoMichigan!
We already did this shite one time and crashed the economy.
Everybody does NOT need a house they need a place to live.
Everybody does NOT need a house they need a place to live.
0
Posted on 8/15/24 at 10:33 pm to HailHailtoMichigan!
This must be that first day crack down on inflation she’s been talking about.
Posted on 8/15/24 at 10:36 pm to BuckI
quote:
. I am curious how they will pay for it
You know the answer.
Money printing/ borrowing. The highway to hell.
Posted on 8/15/24 at 10:41 pm to HailHailtoMichigan!
frick $25k, everyone gets a paid off house, $1,000,000 in their 401k, and a fricking Ferrari.
Posted on 8/15/24 at 10:55 pm to Powerman
quote:
This could be the shot in the arm first-time home buyers need. I am curious how they will pay for it but hopefully, both sides can work this out.
I'm a mortgage loan officer and this is a terrible idea. Hated Biden's 10k proposal and this one is an idiot's fantasy. Good luck ever seeing lower rates again bc this would only drive inflation straight back thru the roof along with all her other stupid ideas she has. Plus, why should tax payers fund your down payment. There's state housing agencies that help with that already. And 25k is almost 10% down on a reasonable starter home. Most first time home buyers can qualify for 3, 3.5, or a lot of the times nothing down. A ridiculous and not needed idea.
This post was edited on 8/15/24 at 10:55 pm
Posted on 8/15/24 at 11:50 pm to BuckI
quote:
This could be the shot in the arm first-time home buyers need. I am curious how they will pay for it but hopefully, both sides can work this out.
Is this a troll….serious question, this has to be a troll right?
Posted on 8/16/24 at 7:10 am to BuckI
quote:
The only thing standing in the way of many would-be home buyers is the down payment. Since rent is higher than some housing payments, this would benefit buyers, especially the young who are starting families.
Why does everyone think this is a bad idea?
Let's pretend. Say this passes and they get people into new homes. Question for you. How are they going to pay for the high monthly note, insurance, bills, food, etc.? Another bailout? And your previous question was how to pay for it? The answer is us, probably through higher taxes. Nothing is free. Why don't we do basic economics first. Let's bring down inflation to where it was before this administration blew it up and get interest rates down so people can afford a LOAN.
Posted on 8/16/24 at 7:14 am to HailHailtoMichigan!
Print mo money
Posted on 8/16/24 at 7:19 am to BuckI
quote:
Why does everyone think this is a bad idea?
quote:
My name is Buckl and I’m unacquainted with second-order effects.
Posted on 8/16/24 at 7:24 am to HailHailtoMichigan!
Remember when they gave a credit for buying EV’s? I think it was $7000. The auto manufactures immediately increased prices by $7000!
Posted on 8/16/24 at 7:25 am to BuckI
quote:
This could be the shot in the arm first-time home buyers need. I am curious how they will pay for it but hopefully, both sides can work this out.
Are you retarded?
Posted on 8/16/24 at 7:26 am to Strannix
quote:
Are you retarded?
Yes, yes he is. He is also a school teacher. Let that sink in.
Posted on 8/16/24 at 7:27 am to Strannix
Why yes, yes he is.
Posted on 8/16/24 at 7:28 am to TDTOM
Those who can't "do", teach. 
Posted on 8/16/24 at 7:33 am to HailHailtoMichigan!
Lots of defaults incoming
Posted on 8/16/24 at 7:34 am to BuckI
quote:
Why does everyone think this is a bad idea?
It will raise the price of housing, and ruin the opportunity for people to own a home.
It will do the opposite of what you Progressives believe it will.
Posted on 8/16/24 at 7:44 am to SDVTiger
quote:
The Gov will get that money back eventually
Agreed. No way the gov would push equity policies and put people in houses they can't afford.
Posted on 8/16/24 at 7:48 am to jkb531
quote:
And 25k is almost 10% down on a reasonable starter home. Most first time home buyers can qualify for 3, 3.5, or a lot of the times nothing down. A ridiculous and not needed idea.
Right. The amount is simply too much and would definitely cause home prices to inflate even further.
I think people would find a smaller amount more palatable if it was just something like covering up front PMI and closing costs on FHA loans. A blanket 25K for first time home buyers would inflate the lower end of the housing market and people would find themselves paying much more than that 25K back over the course of the loan. No one wins in such a scenario.
ETA: I was wrong in saying no one wins. The banks would definitely win.
This post was edited on 8/16/24 at 7:51 am
Posted on 8/16/24 at 7:49 am to BuckI
quote:
This could be the shot in the arm first-time home buyers need. I am curious how they will pay for it but hopefully, both sides can work this out.
Posted on 8/16/24 at 7:49 am to Darth_Vader
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