Would 25k Down Payment Assistance Help Millennials and Gen Z Buy A Home?

[perfectlysmart]

I just love how the answer is to give away money we don’t even have rather than addressing the private institutions who are keeping things the way they are!

[CyberCrusader]

It will end up just like when government started "helping" with college tuition. Companies simply took the government money as the new starting point.

[SubKate]

I'm glad politicians are finally acknowledging the problem, but this is NOT the solution. Increase supply, don't allow corporations to own single family homes, caps on how much landlords can own, caps on airbnbs, lower interest rate for primary residences.

[windatar]

Make it illegal for corporations/business's/hedge funds/investment funds to own residential housing for longer then 1 year after completion of a project. And there would be enough housing in the system to drop prices.

Costs are artificially kept high because the stock is being bought and held by money interests. Making more stock doesn't actually help when the money interests simply buy it up and hold it to increase their portfolios.

[Trignama]

Prices of homes would immediately go up by whatever the assistance amount is.

[OldAndInTheWay-kw]

Who pays? The taxpayers.
How is spending more tax money helping?

[julianbroughton]

Then you run into the main problem. New developed houses are rarely bought by the regular everyday person. Large companies buy them up before they are even completed.

[TheDevastator]

We aren’t “short” houses. There’s plenty of empty houses out there for first time homebuyers that have been robbed from the middle class by greedy landlords and corporations. Getting those houses BACK into the hands of first time homebuyers is what the goal should be

[raspiankiado]

Answer: NO. LOOK AT WHAT HAPPENNED TO COLLEGE!

People said College was hard to afford, back when college was affordable to most. The government gave out "financial assistance". Then colleges started charging MORE MONEY, just to get a bonus, on top of charging the original price of tuitions.

The "problem" never got fixed and now, colleges demand 12 times the tuition, plus some more, just to pay them to operate.

[MichaelBaumer]

Economics 303, when the government subsidizes a commodity, that commodity goes up in price.

You want people to afford life.

THEN THE GOVERNMENT NEEDS TO STOP SPENDING SO FUCKING MUCH!

[Aunny]

The issue is supply, he’s exactly right. Instead of trying to print more money, build more homes using American labor. And produce everything for those homes in the US. Politicians don’t truly want Americans to prosper, they want your vote.

[TopVillain]

Whenever the government gets involved things get more expensive

[michaelbuckley]

This will do absolutely nothing, but people are generally stupid. The only fix to this problem is getting corporations out of family housing.

[halzbog]

Exactly.

Besides there are already tons of 1st time home buyer programs out there. The problem is all of us can't afford the mortgage payments without a 45-60% down-payment.

We can afford rent for now but no way possible is 25k going to lower my mortgage rate low enough for me to afford a starter home in my area.

Renter for life.

[connorferrell]

Maybe get rid of corporations buying residential homes

[jose]

I have a feeling that the prices would suddenly and mysteriously go up by 25k

[joshualoyal]

Government over spending is the single most thing that will sink this country. We can barley pay the interest on the national debt right now. The collapse of the dollar is on the way!

[allyboballymomally]

Where does the 25k come from? From taxpayers. We pay in debt. This is not the answer.

[mikek]

If the gov wants to help: 1. Get rid of income tax, 2. End the fed.

[matthewjorgenson]

We have to stop all the investment firms from buying up all the single-family homes. That’s where the supply shortage is really coming from.