$25,000 Downpayment Assistance: The Horrible Truth

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▶Resources I use/would use (with discounts/sign-up bonuses):

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▶Fun things:

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Chapters:
00:00 Intro
00:22 Kamala Harris Campaign Details
01:10 $25,000 Down Payment Assistance
02:45 Harris Will Propose $25,000 In Down Payment Aid For First-Time Homebuyers As Part Of Economic Agenda - Forbes
04:30 Fabric!
06:11 Does this actually help?
08:54 Let the battle begin! NIMBY VS YIMBY
11:35 Good Intentions but...
13:35 Rent control isn't what it seems
15:37 Austin, Texas Got That Skibidi
16:26 Final thoughts on Kamala Harris
17:06 Check out our resources!

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These are some fun words: Caleb Hammer, financial audit, Graham Stephan, Dave Ramsey, Ramsey Show, George Kammel, Rich Dad Poor Dad, Podcast, Budgeting, Investing, Stock Trading, IRA, Roth IRA, 401k, health savings, HSA, 403b, college costs, student loans, debt, snowball, avalanche, pension, retirement, financial independence retire early.
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▶*Some of the links and other products that appear in this video are from companies for which Caleb Hammer will earn an affiliate commission or referral bonus. Some of the offers mentioned may no longer be available. This is not investment advice.

[dmatthews]

We don't need more money, we need better policy that prevents foreign and instutional investors from buying out the middle class. Are people really still falling for this?

[vg]

Good news for homeowners, they can raise their prices by $ 25, 000

[averageamerican]

Remeber kids, theres no such thing as free money.

[lucasdickson]

This is the same thing that made higher education so expensive. The student needs help, so the government provides aid. The school raises prices, and the government provides more aid, then the schools raise prices even more. Ultimately it becomes too expensive to attend without aid, so everyone takes out loans and is stuck with them for years

[freedom_foz_]

Decrease my taxes, cut government spending, decrease inflation and no one will need “free” money……

[SpoonHurler]

Let's just give Blackrock the 25k per home right now and skip the middle man, amirite?

[summer]

As someone from California who feels like owning a home has become an unachievable dream and I genuinely get emotional and frustrated thinking about, I am in no way in favor of this proposal. This is a TERRIBLE idea. Along with her plan to cap grocery prices. History has shown time and time again how bad of consequences this will have. There are so many other better ideas and it genuinely terrifies me when this is the first idea on the table. Please pay attention to the long term consequences to these plans. It’s so dangerous to give the government that much power.

[jerryappleton]

We did this here in the UK: it was called Help-To-Buy.

Essentially, you raised 5% for a deposit, and the government put down 10%, for a total of 15%.

You'd pay the government back at a generous interest.

The result? The research came out: it RAISED house prices by 10%...the amount the government gave out...😂😂😂

And the banks loved it as who do you think were giving the 10% to the government...with the government guaranteing it will be paid back NO MATTER WHAT...

[dynamicphotography_]

Homebuilder here.
Here's a hint. Everytime the government interfers with us, the prices go up. Everytime.
Been happening for years.
If you guessed that prices will go up $25, 000, you are correct.
This is not the way to bring back affordable housing.

[ThreatQueen]

“I will fix things if you vote for me into office” -says the woman in office 😂😂😂😂😂😂😂

[Tejroe]

The two policies that would actually help are prevention of corporations from purchasing single-family homes, and incentivizing starter home construction. Everything else will simply make things worse.

[mmcla]

The $25k down payment assistance and the ban on price gouging are both horrible policy proposals. From what I've read, we are approximately 4 to 7 million housing units short. Giving people 25k will only raise housing prices. The only thing they should be banning is huge corporations buying single family homes!

And bans on "price gouging" have been done before, including by Nixon in the 70s to counter inflation. Every time, it ends in shortages and is a disaster. We're $35.17 trillion in debt. The governments main focus should be on spending less money.

[champlegend]

I rather have my federal tax cut $5000 a year for 5 years.

[Mc_silo]

They act like money comes from nowhere. Printing and giving away money without actual GDP growth is just going to devalue everybody else’s money

[dynoFF]

When the government makes something easier to afford, prices go up (college tuition, anyone?) - we’ve been here before. $25k down payment assistance means prices go up, and it hurts those who don’t need the government assistance

[johnchristensen]

If the government really cared about the economy they’d pass an amendment to balance the budget, the spending is out of control

[tpot]

She has zero understanding of economics. Also takes zero accountability for our situation. Just blaming everyone and everything but herself. True leadership!

[JakeShuf]

Remember when the fed gave a bunch of money to kids to go to university, and so schools raised their prices to adjust for demand. The price of homes just went up $25k, if this goes through.

[KentPittsburgh]

If you're having trouble with a down-payment, you're going to have trouble paying your mortgage.

[ericgee]

Any politician, from either party, that wants to increase government spending to "fight" inflation is not your friend. That said, thank you for the deep dive and addressing the supply issue of this whole equation, this isn't brought up nearly enough.