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Biden looks to give a big boost to homebuyers and builders
CNBC ^

Posted on 01/19/2021 6:36:10 PM PST by springwater13

Biden is proposing a $15,000 first-time homebuyer tax credit, which could be accessed immediately by the buyer, thereby serving as down payment assistance.

The FHA could also reduce its monthly insurance premiums under the new leadership.

(Excerpt) Read more at cnbc.com ...


TOPICS: News/Current Events; Politics/Elections
KEYWORDS: tarp
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To: MinorityRepublican

exactly...too bad showing that type of courage was the exception to the rule for those clowns


41 posted on 01/19/2021 7:15:28 PM PST by God luvs America (63.5 million pay no income tax and vote for DemoKrats...)
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To: dragnet2

Thank You. I remember W pushing the home loans to minorities. I remember that speech.


42 posted on 01/19/2021 7:18:19 PM PST by setter
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To: springwater13

Because you can never have too many subprime loan disasters.


43 posted on 01/19/2021 7:18:58 PM PST by E. Pluribus Unum (You are in far more danger from an authoritarian government than you are from a seasonal virus.)
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To: lepton; gundog

Exactly- clinton threatened mortgage companies to voluntarily comply to CRA standards.


44 posted on 01/19/2021 7:19:28 PM PST by God luvs America (63.5 million pay no income tax and vote for DemoKrats...)
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To: springwater13

All those illegals walking across the border aren’t going to hire themselves


45 posted on 01/19/2021 7:19:43 PM PST by UNGN
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To: lepton

With HUD Secretary Andrew Cuomo. I hate letting Carter off the hook. Seems like they all give a successor something to build on in the race down the slippery slope. That, and a problem or two for the opposition to deal with.


46 posted on 01/19/2021 7:20:01 PM PST by gundog ( Hail to the Chief, bitches!)
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To: springwater13

Cuomo just announced something similar in NYS.

Guess taxpayers aren’t fleeing fast enough.


47 posted on 01/19/2021 7:20:18 PM PST by mewzilla (Break out the mustard seeds. )
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To: jimfree; All
I remember we used to joke about how easy it was to get a mortgage loan under Clinton's Community Redevelopment Act (CRA).

It was called the "mirror" test. If you could hold a mirror under the nose of the prospective borrower and see their breath, then they qualified.

But the mirror test then evolved even further. If you could hold the mirror up in front of the prospective borrower and you could see their reflection at all, then they qualified. They didn't have be breathing.

It was a joke. No wonder the whole house of cards collapsed when the market went south, leaving investors all over the world holding worthless paper when these phony "borrowers" stopped making their payments.

48 posted on 01/19/2021 7:25:15 PM PST by HotHunt
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To: springwater13
Biden is proposing a $15,000 first-time homebuyer tax credit, which could be accessed immediately by the buyer, thereby serving as down payment assistance.

Then pocketed by the seller, because the price of a house just went up by $15,000.

I was joking about the $80 Big Mac, but I guess we'll see it sooner rather than later.

Does Biden have a plan to adjust gov't administered benefits like Social Security and welfare payments more often than annually?

49 posted on 01/19/2021 7:31:31 PM PST by Sooth2222 (“Taxation without representation is tyranny.” -James Otis (1761))
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To: lepton

But, but muh eviction moratorium...


50 posted on 01/19/2021 7:38:04 PM PST by AbolishCSEU (Amount of "child" support paid is inversely proportionate to mother's actual parenting of children)
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To: Pamlico

I’ve been trying to get my elderly mom to sell her rural 3 bedroom home with basement. It takes everything she has to maintain it and and its killing her just keeping it clean.

Two miles up the road someone is building $250,000 homes that are selling before the ground is broken.

It’s the only home that was ever hers alone and she has trouble letting go.
Every time I mention selling she trots out the “everything is old” argument.
When I battle through that she come up with the “where would I go” argument.

I just want her to sell so she can relax and enjoy the rest of her life.

Any suggestions?


51 posted on 01/19/2021 7:38:07 PM PST by oldvirginian (The glass is half empty because the damned thing is cracked and leaking. The 2020 election is proof.)
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To: springwater13

With so many people unable to work due to Covid how can anyone afford a home?


52 posted on 01/19/2021 7:40:05 PM PST by TonyM (Score Event)
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To: God luvs America
That is very true. It didnt fall apart till 09.

This one wont take that long. The economy will start a downturn beginning March or April of this year.

53 posted on 01/19/2021 7:41:34 PM PST by crz
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To: TexasGator

>Bush went to congress twice warning them!

Even McCain was warning them.

“Banking Queen” Barney Frank just blew the whole thing off.

pun intended


54 posted on 01/19/2021 7:46:47 PM PST by struggle
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To: springwater13

Yay! The bottomless democrat cookie jar is back!


55 posted on 01/19/2021 7:50:11 PM PST by tina07 (In loving memory of my father,WWII Vet. CBI 10/16/42-12/17/45, d. 11/1/85 )
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To: setter
Thank You. I remember W pushing the home loans to minorities.

Yep. It's pretty hard trying to dispute his own words.

56 posted on 01/19/2021 7:54:23 PM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: springwater13

So how much does the price of a house go up? Somewhere around wait for it $15,000 perhaps more. This is the same play book as college subsidies.


57 posted on 01/19/2021 7:58:28 PM PST by FreedomNotSafety
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To: springwater13
"Biden looks to give a big boost to homebuyers and builders"

but... in WHAT country?

58 posted on 01/19/2021 8:03:24 PM PST by Ken Regis
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To: God luvs America; springwater13

Right...Bush was complicit in this on one hand with ANY encouragement and lip service to the scummy mortgage industry in giving loans to people who couldn’t pay them back, but his administration did at least try to nail down the issue with Fannie Mae and Freddie Mac in the House Financial Services Committee hearings in 2003 where the Bush Administration budget officials tried to nail down and publicize serious issues.

What we got, and I damn well remember it, was Barney Frank insisting there were NO PROBLEMS AT ALL, and that stain of a human Maxine Waters saying that any attempts to fix what was broken were racially motivated to keep minorities from getting loans, an obvious offshoot from the Marxist Community Reinvestment Act and the “reforms” during the Clinton era based on the flawed 1992 Federal Reserve Bank study that determined lenders were discriminating against minorities, when the reality was, they were observing sound banking practices in denying loans to people who couldn’t pay them back.

Yeah, they cloaked the justification for all those “reforms” in their Marxist BS, and by 2008, it all collapsed.

Not only did neither of them EVER get called to account for their hideous contribution by fighting against ANY reforms to them, Barney Frank retired with his pension and that bag of dogs**t Maxine Waters is unbelievably the ranking member of that same committee today.

If any of us needed an object lesson on why our government is irretrievably broken, it would be this situation.

Boy, does that piss me off. All those people losing their life savings due to those scum. If there were justice...


59 posted on 01/19/2021 8:05:29 PM PST by rlmorel ("I’d rather enjoy a risky freedom than a safe servitude." Robby Dinero, USMC Veteran, Gym Owner)
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To: springwater13

The housing market right now has too many buyers and not enough houses. It doesn’t matter how much money you have. There aren’t enough houses for the number of buyers.

And now Biden wants to increase the number of buyers?


60 posted on 01/19/2021 8:05:40 PM PST by Tired of Taxes
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