Posted on 08/16/2024 6:19:57 AM PDT by Tench_Coxe
Friday in North Carolina is going to be crazy. Kamala Harris, who doesn't list any policies on her website, is expected to announce her economic plan. President Joe Biden seems convinced that she's going to stick with Bidenomics, but she's already announced Soviet-style price controls for grocery stores trying to make a quick buck. That will lead to food shortages and bread lines. It's communism — it's doesn't work.
ABC News' Selina Wang has another hint as to what Harris will propose Friday: $25,000 in down payment support for first-time homeowners … with more generous support for first-generation homeowners.
(Excerpt) Read more at twitchy.com ...
Also, Blackrock needs to unload all those properties they bought over the last decade, but want to socialize the loss via the taxpayer.
This will obviously just raise the price of houses. Then they’ll have to respond to that. Price Controls incoming.
with more generous support for first-generation homeowners.
I didn’t read this the first time. Is this a joke?
Free stuff works.
President Trump should play the game and offer people $26,000
I'm sure this is just for "low income" folks, it's wealth redistribution and will only serve to upset normal markets.
Buying more votes.
She’ll renege on it and then blame republicans for it.
Why are the only Democrat solutions comprised of wealth redistribution, throwing money at problems that don’t fix the problems.
Why not $100,000 or $500,000? Then we could all live in mansions!!!
That’s too conspicuous....House to be all electric and include plug in for an EV.
It would just drive home prices even higher.
The Dems are trying to destroy this economy.
“ first generation buyers”
Let’s guess what that is codespeak for…
I know you know, but how many of the vast hordes of stupid gimmedats know there is no such thing as “free money”.
The Government of the United States is seriously in debt. This is an anchor weighing down our overall prosperity. Adding even more won’t help, because that will just fuel costs and require payments from somewhere, somehow.
Her government will absolutely raise taxes to pay for (well not really, the debt is so big already) this, which will see businesses close or offshore. The economy and therefore the American people, grow poorer.
Do illegals get the $25,000?
Also, if they cannot afford the houses, will the banks just write them down as they did in the past for those that couldn’t afford them? It was just another way of transfer of wealth. They gave them houses and equity that were worth more than they originally paid. More welfare that going to break out social security.
I didn’t read this the first time. Is this a joke?
Call it "Dreamer Dollars"
We will be revisiting the 2008 Real estate crash, the DEMOCRATS playbook,.. Folks need to remember what was primarily responsible for it. Starting with no-verification loans, greatly exaggerated and illegal appraisals, Second mortgages closed the same day of the first mortgage to provide a down payment. Loans given to people who in no way qualified for the loan. Lax qualification given to minorities.
The Democrats take money from us to give it away to people to vote for them.
The Democrats force lenders to give loans to people who can’t afford to buy a house.
People buy houses who shouldn’t be buying houses.
They don’t pay their property taxes, insurance or mortgage.
They live in a house for free.
Isn’t that actually socialism?
exactly
Everyone has great comments and brings up important points to consider. I had one or two thoughts, now I have 10 to 12. Great analyzing of this issue.
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