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

[Anonymous]

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.

It’s ok to be disappointed in having to earn yours the hard way while others get it handed to them. It’s also ok to complain about it.

[Anonymous]

This will just lead to homes costing $25k more. People can’t be this stupid, right?

- lifelong Dem who will never vote for Trump

[Anonymous]

Lots of places have incentives for first home
buyers - more affordable units, subsidized interest rates - and have done this for decades. Montgomery County is one example from 1980s. It’s not a bad policy.

[Anonymous]

Anonymous wrote:This just another dumb Harris idea. She apparently learned from Biden to just simply buy votes with Government handouts.

It will never pass.

This. It’s sickening how all their ideas come down to thinly-veiled bribes to whichever voters they’re trying to court. And I’m a Democrat.

[Anonymous]

This isn't going to solve the affordability problem. Giving away $25k cash will not stop what makes home buying out of reach. There are parts of the country where corporations purchase entire neighborhoods of single family homes. That has to stop, along with foreign nationals purchasing homes. Of course neither party will address those types of root causes because their donors are the cause of the problem as well as the beneficiary of the solutions to these problems. Of course banks want to see you get a free $25k!

Similar to student loan debt forgiveness and healthcare. As long as the government is giving out free money, there is no incentive to stabilize costs. The institutions, corporations and individuals invested in these areas will continue to profit from the government at the taxpayers expense.

There are some (like in this thread) that just get a feel good moment from being the benevolent taxpayer giving money to those poorer than themselves and have the added bonus of calling others who question the effectiveness of this policy bitter. In reality billionaires are laughing all the way to the bank on this policy.

[Anonymous]

It's very easy.

Get rid of 1031 tax benefits for any investors and home flippers. Get rid of tax benefits for capital gains on homes for any LLC or entity that isn't a single person or family. Raise property taxes by a certain % for each property owned beyond your primary home.

That would solve half the problem instantly.

[Anonymous]

If we're going to do things like this, we need to counterbalance it with regulations Banks interest rates, lenders and home prices.
I love the idea of limiting foreign Nationals from owning real estate as well as lower interest rates. Honestly, that is what needs to happen with student loans, but that's congress's refusal to act, not the president.

[Anonymous]

Home flippers really are what needs to be stopped... They take perfectly fine houses tear all the solid construction and put it back together with gum and spit and sell it for a 30% higher markup or more. You should have to own a house for at least 5 years and if you don't, there's a penalty. Lol

[Anonymous]

Anonymous wrote:It's very easy.

Get rid of 1031 tax benefits for any investors and home flippers. Get rid of tax benefits for capital gains on homes for any LLC or entity that isn't a single person or family. Raise property taxes by a certain % for each property owned beyond your primary home.

That would solve half the problem instantly.

Bite your tongue. If you do that I'm simply going to raise rents!

[Anonymous]

Anonymous wrote:This will just lead to homes costing $25k more. People can’t be this stupid, right?

- lifelong Dem who will never vote for Trump

+100. It will keep the overall inflation high as well. Just don’t get these policies sometimes.

[Anonymous]

If you are going to do something like this, it needs to be targeted to specific zip codes and income levels. I see no reason why we should be paying DINKs in the DMV who are both, for example, 3rd year Biglaw associates 25,000 so they can apply that to their 1 million dollar "starter" home. This money could be better used by doubling it and giving teachers, police persons, fire fighters, restaurant managers, your administrative assistants, etc. a leg up.

[Anonymous]

Anonymous wrote:Home flippers really are what needs to be stopped... They take perfectly fine houses tear all the solid construction and put it back together with gum and spit and sell it for a 30% higher markup or more. You should have to own a house for at least 5 years and if you don't, there's a penalty. Lol

The penalty is the capital gains taxes on the profit. Regular homeowners don’t pay it. Flippers aren’t the real problem anyway.

The problem is all the NIMBY laws that constrain supply combined with too many of the best jobs in the same areas.

Housing prices would be better if we didn’t all want to live in the same place. Plenty of cheap housing in the Midwest.

[Anonymous]

Anonymous wrote:It's very easy.

Get rid of 1031 tax benefits for any investors and home flippers. Get rid of tax benefits for capital gains on homes for any LLC or entity that isn't a single person or family. Raise property taxes by a certain % for each property owned beyond your primary home.

That would solve half the problem instantly.

Yep. Something along those lines. Many people would be happy about that. What’s more it would attract voters who aren’t bleeding heart dem voters.

[Anonymous]

Yup. This is no different than the $10K college loan forgiveness vote buying scheme Biden is still attempting. Dems love to spend other people’s money. If this were to ever become law (it won’t), housing prices will just rise in kind. Every time the govt messes with the free market bad unexpected things happen.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Home flippers really are what needs to be stopped... They take perfectly fine houses tear all the solid construction and put it back together with gum and spit and sell it for a 30% higher markup or more. You should have to own a house for at least 5 years and if you don't, there's a penalty. Lol

The penalty is the capital gains taxes on the profit. Regular homeowners don’t pay it. Flippers aren’t the real problem anyway.

The problem is all the NIMBY laws that constrain supply combined with too many of the best jobs in the same areas.

Housing prices would be better if we didn’t all want to live in the same place. Plenty of cheap housing in the Midwest.

I think there should be laws limiting the number of homes corporations can buy and turning them into rentals.