this post was submitted on 05 Oct 2024
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[–] [email protected] 43 points 2 months ago (1 children)

Donald John Trump comes from a family of real estate speculators.

Akira Toriyama once said he based the character of Freeza on Japanese real estate speculators, who he called "the worst kind of people." (Source)

Am I saying Trump is Freeza? No, Freeza is several orders of magnitude more competent on his worst day than Trump was when he peaked in 1951. But I think it's important to underline, for the people in the back, what level of cartoonish evil we're dealing with, because for some reason people will read stuff like this and it won't sink in. Maybe DBZ will help.

I don't know. I'm tired, y'all.

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[–] [email protected] 19 points 2 months ago (1 children)

They ban abortion and then don't want those babies/future adults housed. Classic.

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[–] [email protected] 12 points 2 months ago (7 children)

Down payment assistance is just going to drive prices up.

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[–] [email protected] 33 points 2 months ago (12 children)

If they really wanted to change regulations they'd push changing zoning regulations in cities to allow building anything other than detached single family housing. That would be totally reasonable and help alongside tax incentives. But I have a feeling that's not what's meant by changing regulations...

[–] [email protected] 9 points 2 months ago (1 children)

I thinks that's one of those state's rights things where federal government can't just tell a town how to zone it's own land unless they're taking it away from the town like for a national Park or something.

[–] [email protected] 7 points 2 months ago

It's actually an instance of super small government. Those regulations are dictated by city's and counties not by states

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[–] [email protected] 9 points 2 months ago

But both parties are the same? Right? RIGHT?!

[–] [email protected] 16 points 2 months ago (2 children)

The only thing proposed that's reasonable is "changing regulation." It's too easy to block new housing, and often times it's just flat out illegal to increase density or build mixed use.

[–] [email protected] 7 points 2 months ago (1 children)

But those regulations are largely controlled by local governments, not the federal government. Federal regulations can prevent building new housing in certain areas and conditions (like destroying habitat of an endangered species), but that is much rarer than a city council not approving projects or zoning changes because they want to keep property values high.

[–] [email protected] 5 points 2 months ago (9 children)

And that needs to change. Local communities are harming the nation with their NIMBY shit. Feds should step in.

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[–] [email protected] 32 points 2 months ago (7 children)

I hate any financial assistance that doesn't address the root cause, because all it is at that point is more tax and wealth transfer to the rich.

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[–] [email protected] 31 points 2 months ago (3 children)

$25k down payment assistance where one bed one bath houses are routinely nearly half a million is a joke tbh.

[–] [email protected] 7 points 2 months ago (4 children)

That's not everywhere in America. That's not even most of America.

And while it's an interesting discussion, it's not the point of the post.

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[–] [email protected] 27 points 2 months ago* (last edited 2 months ago) (2 children)

Honestly I really don't think that's effective either. Giving people more money to buy something generally just means the market will respond by charging more money for that thing. The assistance will effectively get "priced in" given time.

It's honestly the weakest part of the Harris/Walz platform for me. Trump plan is utterly insane top-to-bottom though, and they're just using immigration as a scapegoat here, which is... something.

[–] [email protected] 4 points 2 months ago (1 children)

I do think it can help those that are prepared and on the border of approval. But those that aren't it ain't gonna do shit.

[–] [email protected] 2 points 2 months ago (1 children)

Yeah, I don't think the idea is a total non-starter, but I'd definitely like some details. How will this be limited to ensure it's not being used by investors and house flippers? How will this be ramped down once the housing market settles to avoid it being permanently "priced in"? How will this be paid for and how much will it cost?

Unfortunately American political debates right now are more of a pissing contest about rally turnout than they are about actual policy details, because that's what sways the voters on the fence for some reason.

[–] [email protected] 2 points 2 months ago

I started getting tons of calls because I was approved last year when she announced this. So if it can get me into something I want to know. But it just might be bullshit.

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[–] [email protected] 14 points 2 months ago (1 children)

Public Housing broski. Take a look at Vienna for example.

[–] [email protected] 3 points 2 months ago (2 children)

We have that. It's a little complicated in ways that Vienna probably doesn't have.

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[–] [email protected] 1 points 2 months ago (1 children)

Trump's sucks, but just giving people money will make all of the housing $25000 more expensive on average over time. There are so many better things to do with that money, like better public transportation and schools. She just wants to throw it down a hole and make housing more expensive, in exchange for some short-term support.

[–] [email protected] 6 points 2 months ago (2 children)

It’s assistance not giving. I think it’s just a fund you can borrow from to get enough to start a mortgage.

It would also only apply to people who can’t afford the mortgage.

So it’s not going to impact house prices in the sense you say it would. Except slightly increasing demand to buy and thereby decreasing demand to rent.

[–] [email protected] 5 points 2 months ago

In the UK a similar scheme just led to the entry-level segment of the real-estate market inflating faster than the rest.

It also led to a rise in more 'luxury' entry-level properties being built.

Again, it's not exactly the same concept, but in the case of the UK, most economists agree that most buyers actually would have been better off if the policy had never been introduced, since the price rises ended up outpacing the value of the assistance.

[–] [email protected] 5 points 2 months ago (1 children)

It'll make the bottom of the market more expensive.

[–] [email protected] 2 points 2 months ago (1 children)

The increase in demand will a little. But not near the amount the aid is helping. We are talking a different order of magnitude.

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