Explain?
What dont you like about the idea? Are you also against other first time home buyer support?
Combating skyrocketing housing prices isn't done by giving people a check every month. That just means people selling and landlords will get $400 richer a month.
Think about it like this. Why do houses go up? Because there is people buying. You give a bunch of buyers money to go buy a house, what happens? They go up. Then you have negated the check you gave them.This is clearly a bandaid, thats obvious. But when youre working with people who wont allow anything but a bandaid, and a lot of times, not even that, you take what you can get. Blaming Biden for doing something to try to help is backwards. Many first time buyers are going to benefit from this, as have many first time buyers benefited from many first time buyer support. Does it solve all the problems? No. Does it help people in need? Yes.
The solution is regulations and increasing supply by well, undoing regulations like certain nimby zoning restrictions. Also preventing corporate buyouts of homes and programs that monopolize the rent as we know exists.
This is clearly a bandaid, thats obvious. But when youre working with people who wont allow anything but a bandaid, and a lot of times, not even that, you take what you can get. Blaming Biden for doing something to try to help is backwards. Many first time buyers are going to benefit from this, as have many first time buyers benefited from many first time buyer support. Does it solve all the problems? No. Does it help people in need? Yes.
The other issue is whining about free money ruining the economy is a lot more effective than we give it credit for. I disagree and think that line of thinking is stupid but every day I meet another person in real life who buys it.Yeah, people will complain about other people getting things and why not them? Why didnt they get things?
What dont you like about the idea? Are you also against other first time home buyer support?Subsidizing demand results in higher prices, not lower. To result in lower prices you need to increase supply.
Subsidizing demand results in higher prices, not lower. To result in lower prices you need to increase supply.But thats not possible right now. What is possible is helping first time buyers get homes
But thats not possible right now. What is possible is helping first time buyers get homesIt is possible though. And some places are doing it.
But thats not possible right now. What is possible is helping first time buyers get homes
What dont you like about the idea? Are you also against other first time home buyer support?
why is it not possible?Republicans
This is not attacking the root problem. Also its not clear how this works with the way its worded. They get 400 a month WHEN they buy a house? So after? Dont they have to qualify first? Or is the aid factored in for the bank approval? Why would the bank approve lending to someone with an artificially higher salary for 2 years?Yeah, surprisingly a tweet doesnt have all of the context and there will be more provided elsewhere
It just sounds like a lame bandaid just to help maintain property prices from falling and subsidize rich people.
Republicans
You think Republicans are giddy about giving first time buyers $400 a month?No, but I think republicans will only let bandaids be passed, or they will not let them be passed and then the democrats can say wow these republicans wont even let bandaids be passed
All they know to do is to pump more money into the system.
the other bad thing is that this is a 2 year cushion that will result in many foreclosures when these people no longer get the $400 and realize they cannot afford the payment at this super high interest rateOr, they wont do that, and itll give many people a much needed cushion to be able to buy their first home.
but they will be rushed to buy because if they wait 2 years for the rate to drop they won't get the free money
just not a well thought out idea
the other bad thing is that this is a 2 year cushion that will result in many foreclosures when these people no longer get the $400 and realize they cannot afford the payment at this super high interest rate
but they will be rushed to buy because if they wait 2 years for the rate to drop they won't get the free money
just not a well thought out idea
I bought my first home recently in California because of a first time buyer program, and I would not have been able to if it werent for that program. And surprise, there was a lot of people against that too. People have talked s*** to me.. to my face, because I was able to buy a home with the program.
what kind of program was it?It assisted with the down payment, and while it does have its drawbacks when it comes to resale, without it myself and my girlfriend would still be renting
Can other home owners get some of that.That's crab bucket mentality
It assisted with the down payment, and while it does have its drawbacks when it comes to resale, without it myself and my girlfriend would still be renting
why would anyone talk shit to you about it, trying to understandBecause I live in Northern California which is red as fuck and anybody who takes advantage of anything Gavin Newsome proposes gets shit talked to
Because I live in Northern California which is red as fuck and anybody who takes advantage of anything Gavin Newsome proposes gets shit talked to
theres gonna be plenty of people talking shit to anybody who uses California made insulin
Friendly reminder this user posted AGAINST Biden wiping out student loan debt.No I didn't, you obviously have me confused with someone else, because I said he didn't go far enough, which is the opposite of what you're claiming.
How tf would they know? Is it going to branded as such? "Calinsulin"?Re
Also. Who tf cares? What? They want to needlessly pay more to pad the pockets of people who are so obscenely rich that it's a testament that there is no God?
No I didn't, you obviously have me confused with someone else, because I said he didn't go far enough, which is the opposite of what you're claiming.
Nah. You tried to argue he caused it in the first place, and he was just attempting to bandaid his own problem by throwing money at it and it shouldn't happen. I only remember it because you made the same "throw money at it" comment you did here.I said he was instrumental in causing the problem in the first place and that he was just providing a bandaid because he's just forgiving a tiny fraction of the almost $2 trillion problem which, again, he was instrumental in causing. Forgiving student loans isn't throwing money at the problem because it's the forgiving of debt which the government has already guaranteed (i.e. the money was already thrown at it, so his approach isn't changing anything there). He should be more comprehensive in what he forgives AND he should be putting a solution into place to stop the problem for new students.
I see dozens of houses for sale just driving around.Many sellers bought in recently (past 5 years) and are now stuck with houses they can't sell because nobody can afford the interest rates.
I don't think supply is the problem.
Houses are overvalued and sellers are too greedy to budge on the price.
I see dozens of houses for sale just driving around.
I don't think supply is the problem.
Houses are overvalued and sellers are too greedy to budge on the price.
https://gamefaqs.gamespot.com/a/forum/a/a9c9463b.jpg$400/month off a mortgage payment for first two years is pretty nice. Especially when youd probably need it for all the other things that go with a house purchase
This doesn't seem like the way to do it or is even a good idea.
Still better than what Trump is offering which is nothing but giving Oil Companies free reign.
Yeah, people will complain about other people getting things and why not them? Why didnt they get things?
thats selfish and stupid, as any person who gives a fuck about anybody else will think.
I guess the idea is to put out as many bandaids in enough places to get voters out to get enough people in charge to make change that isnt just bandaids.
probably not gonna happen though. So many idiot selfish fuckfaces in this country
why would anyone talk shit to you about it, trying to understand
One of my neighbors proposed a solution to the increasing cost of homes: developers should stop building new homes. She was saying it's all these new luxury homes and apartments that were causing the prices to go up. Also she doesn't want the undeveloped land across the street to be developed and ruin her view
I see dozens of houses for sale just driving around.You're objectively wrong.
I don't think supply is the problem.
Houses are overvalued and sellers are too greedy to budge on the price.
There's currently approximately 15.1 million vacant homes in the USA. Supply is not an issue.