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Political Discussion
Reply to "$25K in down-payment support for 1st-time homebuyers"
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[quote=Anonymous][quote=Anonymous]I think that we should be getting at the root causes of why housing has gotten so expensive. It's a combination of real estate investment and speculation and other things. We need to rein that in. I think we also need to tackle that as a central issue because my fear is that if we start giving people $25k in assistance toward purchasing homes that will just make the prices of homes go up by another $25k, with that $25k going directly into the pockets of investors.[/quote] It's 30 year low downpayment mortgages and a massive disconnect between supply and demand. When jobs, especially high paying jobs, concentrate, the prices in those places goes up. Look at places where job prospects aren't great and you will find housing is still cheap [/quote]
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