$25K in down-payment support for 1st-time homebuyers

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When is Harris going to explain how this will be paid for?

She won't explain. Not unless the media presses her on it. And, even then, we will get some word salad about "return on investment" or "tax the rich" or some crap like that.
Her economic plan would cost nearly $2 TRILLION. She will not explain where she plans to get the money. Because she knows it won't be possible.

Let Trump's corporate tax cuts go down the tubes. That covers much of it.

Given the terrible national debt we are leaving to our children and generations beyond them, your proposal seems doubtful. Are we going to borrow more trillions to provide this $25K to future first time homebuyers? If so, sounds like a bad deal for them.

Eliminate the Trump tax cuts for billionaires and problem solved. Those tax cuts are what brought the debt up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When is Harris going to explain how this will be paid for?

She won't explain. Not unless the media presses her on it. And, even then, we will get some word salad about "return on investment" or "tax the rich" or some crap like that.
Her economic plan would cost nearly $2 TRILLION. She will not explain where she plans to get the money. Because she knows it won't be possible.

Let Trump's corporate tax cuts go down the tubes. That covers much of it.

Given the terrible national debt we are leaving to our children and generations beyond them, your proposal seems doubtful. Are we going to borrow more trillions to provide this $25K to future first time homebuyers? If so, sounds like a bad deal for them.

Eliminate the Trump tax cuts for billionaires and problem solved. Those tax cuts are what brought the debt up.

Debt exploded by nearly double under Obama.. it has basically not been lowered since.

[Anonymous]

Eliminate the Trump tax cuts for billionaires and problem solved. Those tax cuts are what brought the debt up.

The national debt would have still increased, but at a slower rate. Yes, the Tax Cuts and Jobs act was an abomination, but we did not have a balanced budget before, either.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Lest we forget, it was this very type of thing . . .inducing lower income people to buy houses they could not afford, that landed us in quite a mess in 2008.

The sort of manipulation of the market is and has been a bipartisan vote purchasing tool since the early 1970s. It has rarely had a lasting positive effect.

This! I can’t believe that more people don’t immediately see this. If people can’t afford to buy a house, it’s literally cruel to get them to buy a house. They’ll just end up in deep financial trouble - unable to make payments or pay taxes or necessary maintenance.

You guys are being ridiculous. They still have to have the income and credit to qualify for the mortgage. That doesn’t change. The only difference is that a qualified first time buyer could get $25k for the down payment instead of being short of a 20% payment and borrowing another $25k plus having to pay for private mortgage insurance because the down payment is less than 20%.

PMI exists for a reason.
Maybe we should make it easier for owners to get rid of it once they gain equity, without refinancing, sure. But it serves a purpose. Buyers should be personally invested. Not invested with other people’s money.

I swear all of you must be 16 years old and have no memory of 2008-2009.

PMI automatically drops once you have accrued 22% equity.

But yes, this will cause another 2008 type mortgage crisis. And investors will make a killing again. When Harris begins taking serious interviews on her policies, it's going to be brutal for her.

Is that new? Or maybe depends on the type of loan. We had to do a refi to eliminate PMI.

In the end, yes, the people benefitting most from this will be investors and asset owners. Meanwhile it will not help the little guy in the long run.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Get over it, OP. You’re one of those who’s whining about women getting maternity leave now simply because you didn’t have it.

+1

I want my kids to have more opportunities than I do. Homeownership is increasingly elusive and the barrier to entry high. This gives people starting out a chance.

Tired of people not doing right by society and thinking only of themselves and/or mindlessly parroting corporate talking points. Whether it’s this kind of assistance or healthcare or maternity leave - these are all things that benefit working and middle class Americans.

I agree there are too many barriers to home ownership, but this is not the way.

We are getting on the right track with eliminating the 6% commission system. We would do well to scrutinize other taxes, fees, and costs relating to purchasing a home and encourage competition in the market. Simply giving people money is not going to improve affordability; it will do the opposite.

[Anonymous]

Because you’re a sucker OP. You’re a person who works hard and does the right thing, like pay off your student loans.

This is why I don’t condone doing those things anymore to younger people.

You owe no company or agency your loyalty.

You don’t need to pay your students loans

You don’t need to save to buy a house

You don’t need to pay bills.

Just leeches. Problem is other people will stop producing knowing the fruits of their labor will be taken from them and given to someone who doesn’t work . That’s basically what socialism does, we’re seeing it now with socialism lite. If Harris gets elected or installed (the latter being the most likely) we’ll see a full socialist government. Expect to not receive anything for hard work.

In any case good for you for being ethically and morally good. But you’re a sucker for doing it, just like the rest of us

[Anonymous]

I doubt Harris is even serious about this. It’s like Joe and student loan forgiveness. Promise stuff you know you can’t deliver but there are enough suckers out there who will believe you and vote for you. And then when the promise cannot be fulfilled blame someone else even though you knew all along it was a scam.

[Anonymous]

Government subsidies for university loan programs have worked so well. This will do the same. More free money for the brokers and lenders living on the beach in Florida.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When is Harris going to explain how this will be paid for?

She won't explain. Not unless the media presses her on it. And, even then, we will get some word salad about "return on investment" or "tax the rich" or some crap like that.
Her economic plan would cost nearly $2 TRILLION. She will not explain where she plans to get the money. Because she knows it won't be possible.

Let Trump's corporate tax cuts go down the tubes. That covers much of it.

Given the terrible national debt we are leaving to our children and generations beyond them, your proposal seems doubtful. Are we going to borrow more trillions to provide this $25K to future first time homebuyers? If so, sounds like a bad deal for them.

Eliminate the Trump tax cuts for billionaires and problem solved. Those tax cuts are what brought the debt up.

Debt exploded by nearly double under Obama.. it has basically not been lowered since.

Yes, now tell us why debt exploded.

Did it have anything to do with having to pay for wars started by Republicans? What about having to address the financial crisis caused by Republicans?

Hmmm...it's almost like there is a pattern here.

[Anonymous]

Anonymous wrote:As a single mother, had to work for 8 years to save $28,000 towards the down payment on my first home. Once I got it (150 years old farmhouse with 1100sq ft space), I had to gut it ALL with my own hands, learning how to do framing, drywall, electrical, plumbing, pouring concrete subfloors, as I could not afford any contractors. Everything was properly inspected and approved by my local town and electrical inspectors.

After I paid my own down payment, NOW I HAVE TO CONTINUE WORKING LIKE A DOG TO FINANCE WITH MY FEDERAL INCOME TAXES $25,000 DOWNPAYMENT FOR OTHERS? Why? What do I owe all those people?

I asked the same thing after putting myself through college and grad school by working and with student loans. I continued working on the weekends after grad school to pay off student loans faster. I have paid millions of dollars in taxes and no one has given me a thing.

Just know that you -- like me --are a superior person who can always look down on the lessers (oops -- I meant losers) among us.

(In 4-3-2-1 -- a wokester calling me a loser -- )

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When is Harris going to explain how this will be paid for?

She won't explain. Not unless the media presses her on it. And, even then, we will get some word salad about "return on investment" or "tax the rich" or some crap like that.
Her economic plan would cost nearly $2 TRILLION. She will not explain where she plans to get the money. Because she knows it won't be possible.

Let Trump's corporate tax cuts go down the tubes. That covers much of it.

Given the terrible national debt we are leaving to our children and generations beyond them, your proposal seems doubtful. Are we going to borrow more trillions to provide this $25K to future first time homebuyers? If so, sounds like a bad deal for them.

Eliminate the Trump tax cuts for billionaires and problem solved. Those tax cuts are what brought the debt up.

And the taxes from the billionaires are what keeps the country running. Go after the gig people -- influencers, only fans leg spreaders, and mompreneurs -- and get taxes from these cheats.

[Anonymous]

Anonymous wrote:Idiotic.

Democrats never learn. Free money drives up prices.

If everyone is given free $25,000 you know what I'll logically do in return? Automatically raise the price of my house by $25,000.

+1. How did those COVID programs work out for everyone???? Ahh, yes - they kickstarted the highest inflation rates in decades.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When is Harris going to explain how this will be paid for?

She won't explain. Not unless the media presses her on it. And, even then, we will get some word salad about "return on investment" or "tax the rich" or some crap like that.
Her economic plan would cost nearly $2 TRILLION. She will not explain where she plans to get the money. Because she knows it won't be possible.

Let Trump's corporate tax cuts go down the tubes. That covers much of it.

Given the terrible national debt we are leaving to our children and generations beyond them, your proposal seems doubtful. Are we going to borrow more trillions to provide this $25K to future first time homebuyers? If so, sounds like a bad deal for them.

Eliminate the Trump tax cuts for billionaires and problem solved. Those tax cuts are what brought the debt up.

Debt exploded by nearly double under Obama.. it has basically not been lowered since.

Your gaslighting is ridiculous. The cumulative debt doesn’t go down because of the interest costs and aging retirement population, but the annual deficits that increase the debt have exploded under Reagan, both Bushes, and Trump, and have gotten smaller under Clinton, Obama, and Biden.

Republicans blow up the budget, explode the debt and crash the economy. Democrats rebuild the economy and reduce the annual budget deficits.

[Anonymous]

Anonymous wrote:This would be a huge win for the banks and lenders.

Bingo!

And the politicians.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Idiotic.

Democrats never learn. Free money drives up prices.

If everyone is given free $25,000 you know what I'll logically do in return? Automatically raise the price of my house by $25,000.

+1. How did those COVID programs work out for everyone???? Ahh, yes - they kickstarted the highest inflation rates in decades.

Nope. That’s an uninformed and unsupported opinion. Covid inflation was not caused by too much spending. The global economy shut down because of Covid. Supply chains, labor markets, transportation, everything was turned off and had to be rebuilt with different suppliers, workers, etc. that is what caused global inflation, but inflation was lower in the US than everywhere else.