Finally, paying your rent on time will have some kind of reward.
this post was submitted on 16 Aug 2024
378 points (96.3% liked)
politics
19138 readers
3318 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 1 year ago
MODERATORS
This is a band-aid that does nothing to fix the problem. This kind of "solution" was implemented in my country as well. The direct result was an increase in housing prices across the board.
The problem isn't that people are lacking the money for a downpayment. The problem is that volatility in the job market combined with ever increasing prices means you can't commit to buy a place of your own and pay it for the next 30 years, because the first time you lose your job you'll have lost all progress towards owning your home.
The fix you want is government-built housing. Make a neighborhood with government money. Sell the apartment for 1/3 of the price if the buyer is a teacher/fireman/doctor/other high-demand jobs in governmental employ. That way you fill the positions, the housing prices stop going up, and young people get to securely purchase a house before they're 50.
But of course, that's not the end-goal, is it? No the objective is to make more money for those who already own all the land and houses. And there's no need to spend time thinking about it, just make some fucking vouchers. We all know who'll end up cashing them in.
This is a band-aid that does nothing to fix the problem. This kind of “solution” was implemented in my country as well. The direct result was an increase in housing prices across the board.
Does this not apply to student loan repayment as well?
How long would it take for the sellers to price in those extra 25k they can wring out of buyers?
Well before it's passed. Possibly even if it doesn't pass.
You said this last time when you ran with Biden.
And? Was she some kind of dictator before and I missed it?
This isn't fair to people like me, who were fortunate enough to buy their first house without 25k from the government. Won't someone think about how disadvantaged I am!
There are plenty of people that think this way. They'll happily slap a free glass of water out of a thirsty man's hand because they were there thirsty yesterday and no one offered them water.
Instead of being happy for the thirsty man getting some water, they'd rather he suffer the way they had.
I mean that means if you can find 10 best friends you can all pitch in to put 50% down on a 500 sqft condo in a major city, right? This means its essentially paying a 7x7 ft square of housing at the federal level. Realistically they'd need to start at 90k and state and local govs should pitch in another 90k each to make home buying in most cities affordable.
Am I a first time home buyer if I moved for a job and have been renting at the new location for 3+ years?
I would take it to mean if you've never owned a home
This is a band aid size solution on the gaping wound problem of housing shortage. She should really be putting her time into coming up with an answer to increasing housing supply
Increasing housing supply is explicitly part of her announced plan. Are you under the impression that this was the entirety of her announced economic plan?
Are you under the impression that this was the entirety of her announced economic plan?
Welcome to the internet.
Probably.
It's like how Biden's Student Loan plan was longer than the headline of "forgive x% of them" and people wrote paragraphs about how it also needed to do XYZ, without reading enough to see it did.
I'd rather have a fix for our broken credit system. Denying someone a loan that will be a 2200$ house payment in an area where they will be lucky to get a 3k apartment is insane.
This will just add to the house price inflation.
Just build more houses. Costs are out of control. I'm in my 40s, and have a good down payment saved up, but prices and interest rates mean I'm still priced out of buying a home.
She wants to build 3 million more houses too. but that's not exactly as good of a headline as "Hey first time home buyers! Vote for her and you'll get 25k"
Repeal environmental protection laws and build federally owned housing to compete in the market. Otherwise, there isn’t an incentive to increase housing supply.
Harris is basically become Frodo Baggins and Walz is all about the PO-TAY-TOES
It’s probably mostly going to be used by people buying second homes for renting out
Edit glad they’re thinking of doing it, but I think qualifying for the program needs to be made strict to ensure against first time home buyer fraud
Not a lot of first time homebuyers buying second homes...
1st time homebuyers
First time home buyer fraud has been around for a while https://abcnews.go.com/WN/Politics/time-homebuyer-tax-credit-program-subjected-fraud/story?id=8890655
Then let's enforce the law against fraudsters instead of advocating against financial assistance for working class Americans.
I wasn’t advocating against financial assistance, just stating what’s happened historically
Helping with a down payment makes it easier for a homeowner to assume debt, but that doesn't make the houses cheaper.
This actually makes houses more expensive, because now buyers have more money to outbid each other.
So giving first time homebuyers cash assistance in buying a home is a bad thing, because letting millennial and gen-z Americans have spending power will just make things more expensive?
I don't buy it. How is $25k in cash assistance worse than no assistance at all? Would a $25k penalty be beneficial because buyers would have less money to outbid each other?
This just sounds like a boilerplate argument against helping the working class.
Consider how the federalization of Student Loans has contributed to the price of college outpacing inflation by many times, and income by a magnitude.
That's still only part of the problem, of course, hiring university leadership from the for profit business sector, privatizing loan servicing, etc. have all made college tuition skyrocket, but the loan program is a major issue.
A better option for college would be to subsidize universities directly with the requirements that their tuition stay within a linear relationship to inflation. Somewhat like state colleges offering low tuition for residents.
Housing needs more federal controls, which, to her credit she has explored in her platform along with disincentivizing, exploitative investment in private housing.
The issue with housing is that the supply is limited. If you increase demand and not supply you just increase prices. Giving buyers $25k extra to spend means every home owner is now gonna jack up their selling price by $25k. This is, in the end, a subsidy for existing home-owners. Who already are doing pretty well, thank you very much.
Denying the existence of supply and demand always lead to policy failure. The way to address housing cost is to lower the cost of housing, not make housing more expensive by helping people outbid each others.
Its become a worldwide problem because airbnb brought in extra demand from the luxury hotel market. Even if you tripled the housing supply it might not make housing affordable given that like a security guard that wants to buy a house will never make enough to compete with like the millionaires going on vacation every other week.
There needs to a be a large tax on airbnbs in residential areas that helps pay for public housing.
view more: next ›