Posted on 08/26/2024 1:06:46 PM PDT by rxsid
[Expiative Deleted]
Not much more offensive.
Expletive.
I hate spellcheck.
Your right...other than perhaps, seizing your home by a woke/dei military force and handing it over to the illegal aliens.
When I lived and worked in California I could only afford to rent a room
So much fo US citizens
PROMISE MORE! 800,000 dollars plus a new EV car. Only Promise, but never deliver. The Dem way for no way.
So how long after issue will these “state-supported home loans” just written off and forgiven?????
FJB did it with student loans. Sounds like Cali is going one better.
No problem. Just raise the taxes on the rich in California. All those rich Tech Companies, Hollywood stars, etc. are itching to pay their fair share.
If we are talking homes in Mexico I’m good with this.
What planet are these brainwashed marxist / democrats from.
boggles my mind democrats / marxists can be so brainwashed , ignorant and stupid. They are a cult of brainwashed idiots.
All illegals must be deported . this is an invasion. they brought them here to vote for socialism.
And a heels-up-harris / tampon-tim-stolen-valor-walz admin will bail out CA with everyone else’s tax dollars.
but wait...there will be more!
“up to $150,000 in state-supported home loans “
That’s a typo - I’m sure they mean state grants.
The same as when they let that commission decide how much blacks should reeive in reparations and they came up with a multi trillion dollar number :)
Even their governor shot that down in 2 minutes.
Let people propose ideas until the election is over.
Then shoot them down.
Although in CA, one never knows :)
The democrat party is a criminal organization.
I live on Newport Beach/Irvine border and there are lots of illegals who own big beautiful houses here. They didn’t get government assistance, though. You don’t have to be a citizen to buy property and I guess they don’t check to see if you’re here legally? I don’t know if they have mortgages. Lots of houses here are bought with cash.
Give ‘em a home, and Trump can’t deport.
That’s the whole truth of it.
I’d prefer such dwellings be reduced to embers than have illegal invaders living in them at the expense of Americans.
How stupid is this program? $150K is 20% of $750K but to qualify for this program, income limits range from $140K-$300K annually. A $500K loan ballparks at about $5K/mo PITI, not a hardship for those making over $100K/yr. So how does this help the low income buyer? The loan is interest free, mostly. So who services the loan and at what annual cost to the state? And is the $150K treated as income for federal tax purposes or is it exempt?
When (if) the house sells, the payback to the state will be 20% max of the appreciated value. So if the house sells for $100K more 10 years down the road, that payback will be $20k return for a $150K outlay. How is this sustainable? The program claims it won’t be supported by taxpayers, But CalHFA receives it’s funding thru fees on mortgages - that is, homebuyers statewide will fund this program through fees added to their closing costs.
This is a ‘random’ voucher program but Phase 1 resulted in 1/3 white, 1/3 hispanic, 1/5 Asian/Islander. Are the vouchers weighted for diversity or are they truly random?
It’s a losing situation for the state no matter which way it’s looked at. And in the meantime, the program will only serve to drive existing home prices higher creating more of a shortage.
https://www.calhfa.ca.gov/homeownership/limits/income/income-cadfa.pdf
https://www.calhfa.ca.gov/dream/images/dfa-phase-I-outcomes.png
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