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.
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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.
Federal housing policy has always been about inflating housing asset values. The Harris “plan” is just more of the same. Anyone who thinks either party actually wants to lower housing prices is delusional.
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.
Aaaaaand I know everyone hates when someone points out their hypocrisy so I’m sure I’ll get crucified for this…
This applies to student loan forgiveness too.
Absolutely. I’m for student loan forgiveness, but right now it’s just giving money to banks and then burdening the next generation with the cost.
Lol what???
Tell me you don’t understand what the student loan forgiveness was supposed to do…
Student loan forgiveness was not supposed to reduce the cost of schooling you.moron it was to stimulate the economy and.woukd have done exactly that.
God you people are dense.
Bullshit. You’re the first person I’ve ever seen mention that as a primary purpose.
I’ve seen it explained that way in multiple places. It’s what I understood it to be.
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I don’t know how it is in the USA but here in France we kinda have the following issues:
- People leave the countryside and small cities en masse
- Houses rot empty anywhere that’s more than a commute away from a big city
- There’s a huge shortage of housing in the cities
We need people coming back to the countryside and small cities but all the employment is bundled away in big cities…
I’m here in Georgia, USA. The small towns in my state, those well outside the major metro suburbs, are either emptying out OR the state is bringing in non-union factory and data center jobs to dominate the local economy with the promise of jobs and economic revitalization. These companies are given huge tax incentives to build (or relocate) and thus contribute nothing to local coffers directly (necessitating higher property and sales taxes on locals). Currently, there’s a car plant being built near where I live. The locals in the rural areas were shocked to find out after construction began that their water wells might stop working as the factory and it’s subsequent suppliers setting up in the area will be draining the county dry… the state said they could. They’re out of pocket to drill deeper wells and the state doesn’t care… at the state level, they’ve actually made it harder (legally through environmental review) for local municipalities to direct the development of water infrastructure but easier for private developers (who have fewer reviews to go through) to just build whatever water infrastructure they see fit. Meanwhile, back in town, a handful of out of state multibillion dollar corporations are buying up any and all real estate that isn’t nailed down and renting it back to us at exorbitant prices.
WFH, better communications, give benefits to anyone opening business in a small town, …
And financial support for non chain shops. We need a small locally owned economy too.
Also we used to have a very dense train network that we let rot because iT wAsN’t PrOfItAbLe (and then we spent hundred of millions on roads ajd highways of course)
it’s sorta like that but with way more opioid deaths
edit: and instead of rotting empty, megacorporations buy the empty homes and turn them into airBnBs to keep the house prices high. maybe that happens in france too?
Airbnb seems to be more of an issue in cities than here.
The US has a population density of 33 people km2, But “Massss deportation!”
Yeah. If you’ve ever been to Wyoming, you know that the country is not even close to overcrowded.
Kill 10 kids, sell 7 chairs
Clearly the better solution, this will drive down the price of chairs and dramatically reduce the chairless population.
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.
Nope! Everyone knows undocumented immigrants are buying ALL the houses, they’re taking ALL the jobs, and getting ALL the public benefits (except for the benefits welfare queens get), they’re bringing in and doing ALL the drugs, they’re committing ALL the crime, and they’re voting in ALL elections. It’s true, I saw it on the TV. They’re busy, I don’t know how they have the time to do all of that.
You know, it seems kind of ridiculous when typing it all out like that. Were the TV people lying to me? Can’t be; now excuse me, I’m going to tell my employees to keep working after clocking out and use the savings to buy several blocks of housing and rent them out at high rates. Their poor time management is not my problem.
Down payment assistance is just going to drive prices up.
Didn’t happen last time and that’s not how the housing market even works.
It’s the perfect solution for the democrats because it sounds good but also won’t actually cause housing prices to go down, so homeowners won’t feel like they are ‘losing’ money.
It’s not intended to make prices go down you utter doughnut
Yeah that’s what I mean… it would be good for society if prices went down, but it would also make a lot of people pissed off, so they intentionally dance around actual solutions in favor of shit like this.
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.
Or just build more public housing. It can be nice. It doesn’t have to be dystopian blocks in the sky and it should target all price ranges so that poverty isn’t just entrenched into public housing blocks.
I’d settle for breaking apart the housing cartel personally. Its already illegal.
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.
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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
Both ideas are terrible.
Limiting how many homes that can be owned and preventing foreigners from owning rental homes would hurt the oligarchy, so our bought government would never do that, though.
The analogy is just incorrect. It’s not that there’s 7 chairs and 10 kids. It’s that there’s four kids and one asshole is taking up all seven chairs.
They ban abortion and then don’t want those babies/future adults housed. Classic.
Because being poor, uneducated, and unloved with a chip on your shoulder makes you a likely Republican voter. I would bet the whole farm that unwanted children are far more likely to grow up to vote Republican, and I think that’s one of the primary reasons they fight against abortion, and any other policies that increase education and security for children.
But both parties are the same? Right? RIGHT?!
Bothesidezzz
Broke: Kill three kids
Woke: Buy three chairs
Bespoke: Birth control 20 years ago
