Posted on 08/16/2024 6:50:56 AM PDT by ChicagoConservative27
Vice President Kamala Harris will outline sweeping new federal subsidies for first-time homebuyers Friday when she addresses a rally in North Carolina.
Bloomberg reports the 2024 Democratic presidential nominee will propose offering as much as $25,000 for first-time homeowners as down payment aid via funding provided by taxpayers.
Under the program, more than one million first-time home buyers who have a two-year history of on-time rent payments would be eligible for “down-payment support” and leverage into a purchase.
The plan to subsidize housing demand followed an earlier announcement Harris wanted to impose government-controlled pricing on grocery stores in order to protect American consumers from grocery store price hikes, as Breitbart News reported.
(Excerpt) Read more at breitbart.com ...
Wil just drive the price up by 25 thousand
Yes. I want to share ownership of my home with the corrupt Federal Government!
Giving a bunch of young people who can’t afford a home 25K to “afford” the home should do wonders for inflation.
Pisses me off. This is all to benefit illegals. Another handout for votes just like the freebies on student loans was to get votes. The hardworking US taxpayers get the bill.
We just found out that Joe and the Hoe are raising medicare premiums by a lot and are going to hide it until after the election by robbing medicare funds.
So many people are going to go under if this nightmare doesn’t stop.
Taxpayers will HAVE TO PAY THIS.
COMMUNISM.
ESPECIALLY SINCE MANY OF THEM GOT THEIR STUDENT LOANS “FORGIVEN”
ALSO-—THE “BUMP” in retail spending in JULY is normal:
IT IS ALL BACK TO SCHOOL SPENDING !!!!!!
her economic advisory council is staffed by ex-soviet commissars
That’s disgusting. People that can’t buy houses are subsidizing other buyers. Once again the G’vt proposes that some are more equal than others.
This is nothing more than a cynical ploy to leverage greed and gullibility.
I could almost get behind this in theory if it was in place of all the $$$$ going to other countries (I’m looking at you Ukraine). But I know all it will mean in practice is home prices going up because (just like college tuition) of the government “free” money. Higher home prices mean higher taxes and insurance along with the higher house payments.
A far better idea (which the federal government need not be involved with) is for local governments to review zoning and land use regulations and adjust them to allow more flexible housing options that suit their community.
Oh and most important. NOT EVERYONE NEEDS TO BE A HOMEOWNER OR SHOULD BE.
Next they go on Tinder get a spouse and get universal monthly credits. It will never end.
More deficit spending, more inflation.
If they can’t afford the down payment what about the new roof, furnace, flood damage, etc. Houses just get more expensive.
Heck, oblama w9n election by promising cell phones
And apparently Americans on the left, and I dependents are all a-ok with massive corruption by liberals, higher prices on everything, higher taxes etc, but let pres Trump make a mean tweet, and th3y fall all to pieces
We all saw what happened when low income folks were given loans to buy homes... most defaulted, but got bailed out, and it crippled lending companies (Fannie may was it?)
The left demanded that KNOWN RISKS be given loans and it was a major hit to america
Now they are demanding that KNOWN RISKS be given more loans
It just doesn’t end with liberals
Home prices will increase by more than 25k. Look what happened when the gov. Went into the student loan business.
Guess who will pay for this.
Not only as you describe, the bowerers will default in a year or two. Then the feds will treat that loan like a skool loan and forgive it.
These rats will need a biger money printer before this is over.
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