The worst idea is ever giving down payment assistance. Government subsidizing actual builders, sure, but free money to property owners just increases the price to meet supply and demand and goes right into their pocket. It actually increases home prices. Extremely stupid.
I’m all for it of they include vacant land… I wouldn’t mind having acreage, and getting one of them unfinished Amazon houses.
This is just to first time home buyers, not to anyone buying a house
Don’t know that it would be sufficient, but it’s not free money to all property owners, just those that haven’t yet been able to get to home ownership, but have been renting consistently for a couple of years.
So if in a normal market, a new homebuyer has a budget that’s about $15k less than some speculative asshat looking for an investment rather than a home, then this tips the scales in favor of that would-be new homebuyer.
There needs to be some sort of tipping the scale in favor of people seeking to own their own primary residence versus those that already have their primary residence and ideally disincentivize those looking to acquire property they have no interest in using themselves.
When I say free money to the owners, I mean the primary effect on the market is only to increase the price, giving more money to sellers and more equity to owners. Without a significant increase in supply, it won’t help much and giving 25k for single family homes would be counterproductive in general in my opinion. You want to fuck speculators and parasitic landlords, you do it by increasing supply. That can include a focused effort on high density and mixed use housing that the 25k doesn’t help with.
Note that the proposed incentive only goes into play after a set level of housing stock is constructed. So significant new stock with advantage to people seeking first primary residence.
It’s more pointless than bad, I would think.
Nah, using tax dollars to increase property values in a housing crisis is counterproductive as fuck. It increases rents for everyone else as well. Better off attacking it from the supply side with a massive subsidized housing effort and just tanking the market. But that’s politically toxic.
The problem is that almost everyone would be better off if the housing market tanked. Except donors.
Of the four ideas that are listed on this picture that’s the one you gonna go with for being the worst?
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.
That’s the feature of these issues, there is no incentive for people “fixing” them to end the grift.
The US has a population density of 33 people km2, But “Massss deportation!”
Yeah. If you’ve every been to Wyoming, you know that the country is not even close to overcrowded.
So the mass deportation would be of lawful alien residents, because undocumented residents cannot buy houses unless it is straight up cash, and even then would have a hard time getting insurance or utilities, you know, without a SSN, credit history or IDs. Unless they use a stolen SSN, which is very difficult and rare.
Down payment assistance is just going to drive prices up.
Yep, the big fix is to tax the hell out of single family housing owned by corporations. But no politician would dare run on that platform.
Immigrants own Chase Manhattan?!!?!
Damn, lern somethin’ new errday …
This meme is extremely naive. For many American voters, the primary residence is their one major investment – and will severely punish any elected official that reduces housing prices. The result is neither party will do much on this issue.
I hope that you’re right, because in 20 years that will no longer be true, and maybe we’ll be able to make real progress on housing at that point.
It’s only going to get worse in the coming years as weather gets more extreme and entire towns and city’s get swallowed up by the ocean.
My assessed house value being high only makes my property tax burden higher.
I’m not particularly eager to use my residence as a financial instrument, I use it to live in, not just some asset.
Meanwhile, I’m worried about the next generation of my extended family finding somewhere to live without getting stuck on the rental treadmill. If my house value tanked 60% but now the folks currently struggling to own a house can find them, I’d be ecstatic.
“Kill 3 kids and bulldoze the neighboring nature reserve (it won’t give us more chairs, but it’ll feel good)”
its called a nature reserve because its a piece of nature thats reserved to be used as a golf course in the future
They ban abortion and then don’t want those babies/future adults housed. Classic.
But both parties are the same? Right? RIGHT?!
Bothesidezzz
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…
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.
It’s actually an instance of super small government. Those regulations are dictated by city’s and counties not by states
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.
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.
It’ll make the bottom of the market more expensive.
The increase in demand will a little. But not near the amount the aid is helping. We are talking a different order of magnitude.
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.
Of course there’s the best option which is an non-occupancy tax that goes up exponentially for each additional property you’re sitting on for speculation.
That right there would be a hard counter to wallstreet hoovering in the housing market.
It’s like you’re not even considering the feelings of the millionaires and billionaires with 72 houses each and I for one just won’t stand for it.
I can’t wait for the “rational” peoples argument against taxing the rich. Will it be something like a slippery slope fallacy? Maybe it will be “it’s unfair to thoses that only just recently got rich.” I’m thinking though they will go with, “it’s not going to make a meaningful difference” then try and sell us trickle down in some new way.
The only rational argument against taxing the rich is that if you do it piecemeal, they’ll just move to a lower tax area.
They’re working 1 000 000 000 000 times harder.
tweets racist shit all day
That on top of a tax that is highly progressive after x number of properties, regardless of occupancies.
If a landlord who actually takes their job as servant to their tenants seriously gets some efficiency of scale - say enough units to justify a full time maintenance person who is available on call to support tenant issues - I don’t want to punish them for that. Surely we can develop metrics to identify predatory landlords that are more accurate than number of properties.
Nah, number of properties is a pretty fucking good metric.
Being a “bad” landlord isn’t the issue, the issue is taking properties off the housing market for rent collection, and driving up prices for everyone else in the process.
There are more empty units in this country than unhoused people to fill them, this housing crisis is one built entirely out of artificial scarcity created by letting speculators buy up supply basically for the purpose of scalping them to poor people who can’t say no to the product.
It’s the same kind of “market efficiency” that has ballooned medical costs, who can afford to compare costs on a kidney transplant? Nobody. Who can afford to shop around and wait on houses? Unless you’re very lucky in today’s economy, also nobody.
Housing does not abide the same market rules as designer T-shirts. Necessity goods will inherently have a hostage effect on the customers where you could in theory charge any price and just make the disinfortuned eat shit for it.
I was thinking more non-occupancy just meaning “that you don’t live in yourself”, so that would mean filling your rentals with tenants doesn’t save you from the tax.
As usual, the blue choice is obviously much better than the red choice, but only in comparison to this bat shit crazy red choice. On it’s own, the blue choice is still rather bad.
I’m starting to think that Republicans just exist to make the bad Democrat options look always better in comparison.
If you have one side that is pushing into the crazy territory really hard, the public discourse will change and shift in a way, that a moderate position will be perceived as extreme. https://en.m.wikipedia.org/wiki/Overton_window
Your comment made me think of this spoken piece at the end of Anti-Police Aggro by Oi Polloi.
“Revolution isn’t a thing that happens overnight. It’s not a thing that - the orgasmic storming of Buckingham Palace and everything’s all right in the morning, we’ve got a revolutionary society. We’ve got to realize that as things get harder - when we have a revolution, when we’re headed towards a revolution things’ll be harder still - and when we’ve obtained our revolution it doesn’t stop - it continues on and on and on and on - It continues on until WE are the moderates. Right? When we are the moderates that’s when we have a revolution. When ordinary people say “Anarchists? Ah, fuck - they’re a load of fuckin liberals - they don’t believe in revolution at all, ah, fuckin hell they’re useless, like, you know” - Yeah, that’s what I wanna see. That’s what I’m fuckin’ fighting for.”
Well said. Yes, this is what self-identified-“leftists” miss out on. Their dismissal of Democrats is based in a child’s fantasy of politics. In the real world, you have to win the election, move everybody up one, win another election, move everybody up one, win another election, etc. In the meantime, republiQans kick everybody back at-least-two either way, and the cycle repeats.
Magical leftist thinking says we all vote for gay space communism and tomorrow BAM it’s replicators and free energy. Alas. There exists a timeline where that is at least sort-of-possible - but we ain’t in it right now.
Leftism, at least the version currently prevalent on Lemmy, is literally religious thinking. There’s in-groups and saints and prophets and holy scripture and a Rapture everyone keeps waiting for.
Yup. Lasting change requires shifting the Overton window to the left. Otherwise, you get something like Iran.
