California's 'Dream For All' Home Down Payment Program Ran Out Of Money In Just 12 Days

Epoch Times ^ | 04/18/2023 | Travis Gilmore

[Trump Girl Kit Cat]

2,400 people helped at approx. 50,000 each for down payments is only half of 300 million where the hell is the rest of the money???

[Lurkina.n.Learnin]

“we can’t truly make a difference in opening the doors to building generational wealth for Californians”

But we can damn sure build generational debt.

[madison10]

California’s government has mush for brains.

[Right Brother]

Administrative costs. 😁

[mikey_hates_everything]

While we are off to a strong start, we can’t truly make a difference in opening the doors to building generational wealth for Californians—especially those who historically have faced systemic barriers to homeownership—without sustained funding for the program,” Atkins said in the statement.

I sure would like to know how the Turks, Armenians, Persians, East Asians, Indians, Filipinos and others managed to build generational wealth all that time before this program started in 2021.

[cherry]

well we are just apparently very poor.

[frank ballenger]

Newsom: 12 days? Gee, it felt like a lot longer. Oh, well.

[Secret Agent Man]

And taxes.

[dennisw]

https://archive.is/eb2mo

[13foxtrot]

Amazing. The demand for free money exceeded the supply.

[chopperk]

California has some brilliant administrators.

[metmom]

Some politicians pocket.

[drwoof]

... and he will be our next ‘President’. Wonderful.

[Hootowl]

That’s an average down payment of $125,000!

[DAC21]

"Resources are provided through the Dream for All Shared Appreciation Loan, in which the state provides a portion of the down payment in exchange for a share in the property"

Gee, what could go wrong? Well anything the commies in Sacramento decide is best for the peasants whom where dumb enough to get into this program.

[RGSpincich]

Future foreclosure deals for investors. 20% wasted by the taxpayers.

[USAF1985]

“The lowest eligible income for the program is $159,000 for several counties throughout the state, with San Franciscans and Silicon Valley residents in Santa Clara and San Mateo residents eligible if they make $300,000, the highest”

So much for low income family dreams…$159K is the lowest eligible income? Never been happier to be living extremely well in Florida on that salary right now. California…where dreams go to die.

[fella]

You can’t over tax and over spend into prosperity.

[gas_dr]

Yeah I was wondering about that. So the state owns a part of the property until it’s sold. No thanks. Wayyyy too many strings attached with that. And does that mean that the state pays a proportional amount of taxes on the property? This is a scary way for the state to own all the property.