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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]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.[/quote]

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.
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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%.

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