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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I have been fortunate enough to have plenty of money all my life, I fully support any proposal/policy that helps people get a foot on the homebuying ladder.

Keep in mind that a house is the main asset for 90% of people, it’s important that people are able to buy and not just enrich their landlords.

As for OP, tough luck. Suck it up![/quote]

[b]First time homebuyer grant programs in Dem states  are what largely ballooned the price of housing.[/b]  It’s going to have the same effect as rent control also found in blue cities which made rent very unaffordable.

It makes the price of housing shoot up when more people are trying to buy. It’s like Pell Grants for college. More people started going to college which meant more dorms and more teachers needed which meant the price of college tuition had to shoot up. Grants (free money) only inflates demand which inflates prices.

25k grant won’t mean much especially in a housing market where sellers will go for who offers the most cash. To compete, people will need to go away above asking prices and homes will sell for more than they’re worth. It will cause a crash as inevitably people getting grants probably can’t afford to be homebuyers in the first place. [/quote]

Imagine being so dumb you actually believe this.

No Virginia, the peanuts given out by homebuyer assistance programs is not what ballooned the cost of homeownership. In reality it was the massive increase in people wanting to live in urban and suburban areas combined with the refusal to change single family zoning driving the price of desirable property through the roof with no way to address demand. [/quote]

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