Posted on 01/21/2021 8:04:52 AM PST by Onthebrink
(Note: This makes no sense! Isn't the housing market already doing well? Why not help people who lost their jobs due to COVID lockdowns?)
Anyone looking to buy a home today is likely frustrated by sky-high prices and slim pickings. But President-elect Joe Biden, who takes office Wednesday, will aim to ease those issues as he gears up to implement his plans for the housing market.
From home financing to home construction, Biden’s plans are focused on affordability. Here are some policies he could push for:
$15,000 first-time homebuyer tax credit Urging big banks to get back into FHA lending Encouraging new construction of both single- and multifamily housing Strengthening the Community Reinvestment Act, which is intended to help low- and moderate-income areas
(Excerpt) Read more at cnbc.com ...
Trying to destroy the economy like before.
Maybe he should hire Barney Frank if he wants to ruin banks and the housing market quickly.
This will work as well as Obama’s push to “help” students afford college by nationalizing college loans and handing them out willy-nilly, leaving us with a glut of Feminist Studies BAs with $100K of debt and skyrocketing college costs.
Only going to drive the cost of homes up and put people into homes that they can’t afford, thereby creating the seeds of the next mortgage crisis. Just watch.
They have zero clue what to do, so they’re repeating something they did before that was successful in their eyes. But this is NOTHING like before.
This is gonna be epic to watch. Thankfully, I’m fairly well insulated and can just enjoy the show. My apologies to those who are not.
What are they going to buy the homes with— how are they going to pay a mortgage-— oh, i see— WE will finance them at 100% plus a “cash” bonus at closing.
And continue the mindless valueless worthless PAPER that was the original 2 prior real estate scam DERIVATIVES and Margin Calls run by an algorithm Ponzi scheme from MIT.
Pay with out paying. Work without working. Long Live the Dictatorship of the Proles.... marketed as a Proletariat.
Holy horse crap.
The housing market is just fine for sellers.
He’s going to want to build Section 8 kind of low income housing in nice suburban neighborhoods.
Just watch.
It’s part of the plan to destroy the middle class.
Oh great, pump up the CRA which is big reason for the bubble and collapse in 2008.
Biden axed the pipe line deal thousands of jobs gone yeah that should help people to buy a house.
The charlatan has more dream killing acts to ensue he played his voters for the fools they are.
Well the rental economy is creating a class of landless serfs, being able to buy a home, otoh, helps families to enter the middle class. You aren’t going to get many voters condemning this policy.
If the GOP is to survive it cannot be by taking the side of people who want everyone to rent everything and to be cast into outer darkness the moment calamity strikes.
Exactly! Democrats’ Economic Plan- wash, rinse, repeat. CRA caused the horrific housing collapse.
Giving loans to people with no jobs or credit history, this sounds familiar somehow. Perhaps they will also be encouraged to buy houses in communities with people who keep their houses and yards maintained which unfairly keep property values high
If there is one thing the Uniparty is guilty of its legislating for the voters they wish they had rather than for the actual people they are supposed to be representing.
This will turn into “houses for people with bad credit” again. I’m glad we are closing in February
My husband is in the lumber industry (lumber is a commodity and subject to great fluctuation) prices are nearly double.
Also interest rates are going up I’ve heard
How will this really do much for them?
Or maybe that comes after the "Cash For Clunker Houses" Act.
Throwing government money at an affordability issue always helps.
Just look at healthcare and higher education...
That article is nothing but spin.
I was just talking to someone in the building industry who said price of lumber doubled because of the increase in demand for housing and now house prices will be higher.
Printing money out of thin air. What could go wrong.
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