Sorry to butt in...giving special interest groups taxpayer funded GRANTS for home ownership is very socialistic. This is a fine example of wealth re-distribution, gov overstepping its authority, and guaranteeing outcome rather than opportunity. I am just astounded at this one. How can this possibly be reconciled with the conservative value of self-sufficiency? Providing a safety net for those truly in need is one thing, paying for their friggin down payment is beyond the pale! And don't give me that home ownership or welfare hyperbole - it's not either or.
Should you be scared, or should I?
;^)
Does anyone here remember that Clinton era boondoggle where the government would subsize housing costs for teachers and cops who promised to live in a neighborhood for a certain amount of time. As I recall, there was a lot of opposition to this idea at FR. I haven't heard lately what happened with this boondoggle, but I remember the abuses that came to light just a few months after it started...teachers and cops getting essentially free or very low cost houses, not living in them, and selling them.
There is a reason for the fact that in order to buy a house, you should have to save money and act responsibly to get one. That process is an education in itself. Not everyone is mature enough to buy a house, or they make bad choices and lose their ability to buy a house.
Making bad choices and living with the consequences is necessary to a free society. The government shouldn't be short circuiting the process, and certainly not with my money or the money of young people of any race who have chosen to make good choices and sacrifice some short term pleasures for a long term gain and work and save money to buy their own house.