How the HEEL is that going to help falling home prices?
COMMUNISM 101
That was my exact thought.
When the government supplies your food, medical care, housing, etc. It is communism plain and simple. I wonder how long before they start telling people where to live,what to eat, where to work.
Soviet Union in the US.
Housing prices will continue to fall as the bubble further crashes until they reach a sustainable price. Inflation adjusted, historically that has been around 100K in today’s prices for the average home (Roughly 2x one’s gross income). Don’t expect home “values” to rise or remain the same, they were in a bubble for the last 15 years or so, and now it’s still collapsing. Housing payments, be they rent or mortage historically have been unaffordable above 25% of ones monthly income. As that drops, so too will the price of housing, unless it’s artificially bolstered yet again.
In any event, this effort by the government is fascism first and foremost.