Democrats proposing up to $25,000 for homebuyers to help with rising real estate prices (stats, millionaire)
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Back the last time they did this we were in the middle of the whole blow up thing. Why they do this now its beyond me.
anyone - including the finance people and Biden that were in the middle of this in 2009-2011 - can see the blip in # of sales and price increases that happened under Obama. It was a temporary bump in "planned" activity that was accelerated in order to get the tax break.
Right when the program ended, prices and #'s of sales continued to decline.
This is a good bill. If you don't stay in your home for 5 years, you have to pay it back. It will stimulate more home construction, creating jobs. What's not to like?
Except this money will further inflate the bubble. 15k or 25k is not much. What happens when the market goes up by that much in one to two months? All that money wasted and now homes are even more unaffordable. Democrat brilliance
Status:
"everybody getting reported now.."
(set 14 days ago)
Location: Pine Grove,AL
29,538 posts, read 16,518,482 times
Reputation: 6022
Quote:
Originally Posted by BoBromhal
dayum, a Democrat opposed to a Democrat leftist idea? Thank you!!
It's like folks don't understand private property rights.
If a builder sees "I can build 2 houses, and have loan-qualified customers when they're half-built, and make $100K", then naturally they need to see the ability to "I can build 6 houses, and have loan-qualified customers when they're half-built, and make $200K".
So what the dumb Dems who would support this inanity need to understand is - "Why is it so expensive to build a house?"
Any developer will take the same risk to build/sell more houses at the same margin and make more money as they will to build/sell fewer houses at the same margin and make less money.
Do people actually think there are MORE people qualified to buy a $700K house than a $300K house?
He proposed a Democratic idea that most Republicans have been against for decades.
Yall dont like Urban planning, and most republicans hate the provision in most large cities that makes developers build low cost housing when ever they build high cost housing as well.
Well, as long as it's for individuals with one house only, and not the corporations and large entities that have lately been buying up lots of R-1 residential real estate. It would help give liquidity to the little guy that the big players have in abundance and level the playing field a little bit.
of course it would probably lead to a mad rush to want to buy in order to not miss out.. if they are going to do this they need to make it last a couple years.
I don't support handouts but this one I will use if they give it out. I don't know why they'd want to create more debt that just goes to further blow up another bubble in the everything bubble though. They are really determined to fight any sort of deflation. They want to inflate to oblivion, debt to GDP ratios be damned.
Buying a home is one thing; maintenance and repairs are another. In the past 12 years, we have had to update our septic system ($20,000), rebuild our modest deck $5500), replace windows ($6500), add water storage and a water filter ($12,000), privacy hedge $2000), regravel driveway ($1500), replace roof ($16,000). This year, we will need to add new flooring and paint exterior. Just when you think you are caught up, something else needs repair or replacement.
We bought more house and land than we could afford so we know the pitfalls of home ownership when you are caught short when an improvement is needed.
People need to learn that government should not and cannot solve your personal problems. We sure could have used some financial help when we bought our home when interest rates were 12% and more. I worked 3 jobs for two years to afford my first home. Where did self-sufficiency disappear to?
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