Posted on 07/20/2015 12:13:34 PM PDT by nickcarraway
For some Muslims, it can be hard to buy a house, and Mayor Ed Murray plans to do something about it.
On Monday, Murray's housing committee released its recommendations for ways the city can increase housing in the city. Most ideas were what you'd expect, including increasing the city's housing levy and implementing new rules and regulations to foster development of market-rate and lower-income housing.
One suggestion would help followers of Sharia law buy houses. That's virtually impossible now because Sharia law prohibits payment of interest on loans. The 28-member committee recommended the city convene lenders and community leaders to explore options for increasing access to Sharia-compliant loan products.
More and more lenders are offering Sharia-compliant financing, according to a USA Today report. The sector has grown to more than $1.6 trillion in assets worldwide over the past three decades, and analysts see potential for continued growth as the number of Muslims in the United States and Europe grows.
It's unclear how many Muslims in Seattle would benefit from Murray's plan. The Washington state chapter of the Council on American-Islamic Relations (CAIR) estimates more than 30,000 Muslims live in the greater Seattle area, and Chapter Executive Director Arsalan Bukhari on Tuesday said it's "fairly common" for some not to seek loans.
Based on what he called "rough anecdotal evidence," Bukhari estimated a couple hundred people aren't borrowing money for houses due to their religion. He said this includes even high-wage earners, such as the more than 1,000 Muslims who work for Microsoft (Nasdaq: MFST) and more than 500 Amazon.com (Nasdaq: AMZN) employees.
They could easily qualify for home loans but opt not to apply "simply because they don't want to pay interest," Bukhari said. Murray will send legislation based on the committee's ideas to the City Council for consideration. During a press conference, he said he wants to help Muslims.
"We will work to develop new tools for Muslims who are prevented from using conventional mortgage products due to their religious beliefs," Murray said.
Has anyone thought maybe we LEGAL AMERICANS that were born here, work here, pay taxes here, fight for our freedoms DON’T WANT A MUSLIM LAW????????????????
If the Muslim communities want their own laws, then go back to where you came from and form your own government there!!!
Let’s guess....
No Interest
Higher price
Christians pay the difference.....
It's simple. They just relabel the interest (riba) as rent. Example:
Declining Balance Co-ownership Program
Guidance Residential is the #1 U.S. provider of Shariah-compliant home financing. Our Declining Balance Co-ownership Program is modeled on the Islamic concept of Musharakah Mutanaqisa or diminishing partnership. The program has been certified by an independent Shariah Supervisory Board, which performs an annual audit to ensure absolute compliance with Shariah.In this model, Guidance Residential and the homebuyer engage in a joint ownership venture where each owns a percentage of the home equal to the equity they each contributed. Homebuyers are required to make monthly payments to Guidance Residential over a predetermined period of time in order to completely buy out Guidance Residentials equity, and own the property outright. The monthly payment consists of two portions; an amount that is allocated for acquisition of Guidance Residentials equity and the other allocated as rent for use of the portion of the home they do not yet own. The acquisition amount helps in buying Guidance Residentials shares of ownership over the predetermined period of time and the rent is the profit Guidance Residential earns from this co-ownership program.
Work and re-education camps wouldn’t be too pricey.
Okay, thanks for the clarification.
Yep, and yet MeganC, those Leftists never quite grasp when they are pushed under the bus. Go figure...
So when places burn, bombs go off, mass shootings take place at the hands of those Islamic people they move in, these folks won’t take notice.
Idiot.
Why won’t I get any help? Oh, I forgot. My ideology says that slitting throats while yelling allaku akbar is bad.
And Allah falls for that?
I just realized something. When Donald Trump refers to "stupid politicians," that's code for "liberal politicians."
It would be interesting to see him asked that question.
“Mr. Trump, when you use the term “stupid politicians”, are you consciously substituting the word stupid for Leftist?”
“
the Mohammeds need to be repatriated ASAP to their own countries.
The very very very LAST thing America needs is to help finance their invasion into USA!!!!!!
For goodness’ sakes, when are we going to get these sell-out political hacks OUT OF PUBLIC OFFICE!???????
how long can USA survive this invastion, onslaught of the enemy’s agents and street battle forces into our cities, towns, and countryside? Some of it at our taxpayer expense, since Obama.......... and Obama’s sneaking them into unsuspecting communities “from sea to shining sea” — sometimes in unmarked buses.....you wake up and there’s 100 more enemy agents right there in your own home town!
Interest free loans!
Everyone gets a free ticket on the gravy except me.
I have a plan as well - go back to a country that has Sharia law, then buy a house.
As opposed to every other homeowner who wants to pay interest.
When I was a young teen we had a Muslim family buy the house next door (nice suburb). My mother (old school Irish catholic) was continually shocked at the stuff/antics that went on next door.
The father came home from work everyday and parked at a bar about a 3/4 mile away, had a few belts and walked home. Never associated with anyone at the bar for what we heard. In the morning he walked to the bar, got the car and went to work. (Sounds devout right?)
The mother worked like a slave. The father and teen son (a big kid) never lifted a finger. The mother mowed and shoveled the driveway by herself. My mother was the type that would order me to help and refuse money, if she saw such a thing -but not for them!
Anyway, they built a brand new house on an adjacent street and it sat vacant for four years. I don’t know who loaned them the money or it it was a mortgage, but we heard that they wouldn’t move in until the balance was paid.
Seattle has a shortage of common sense. Seattle has a history of electing, shall we say, interesting mayors. The latest, part-time mayor, full-time skin flute player Ed Murray is absolutely bat guano crazy. The city counsel isn’t far behind.
What mentally disturbed fools. I wonder who’s necks will be chopped first by their new neighbors.
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