Kamala Harris' Plan to Help First-Time Home Buyers

Kamala Harris’ plan for first-time home buyers offers $25k toward their first down payment — here’s why that’s such a big deal

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[liap]

Are you kidding me?!?! I scraped & saved for a down payment. Why should anyone have $25K handed to them on a SILVER platter?!?! And, that's MY hard earned money she wants to give them!

[taras]

Don't get so excited everyone, it's first time, first generational homebuyer. If your parents owned a home, you're disqualified.

[dantesrt]

Tell me you have no financial or economic knowledge without telling me you have no financial or economical knowledge...

[CONTRACTOR_SG]

She ment the immagrants will be the first time home owners

[solomoncrates]

You should be concerned about why you’re not actually able to buy a home now

[micahsims]

If anyone ancestor of yours or your fiancé’s has owned a home, the $25, 000 wasn’t meant for you. Even if it did, thinking it would actually help is just laughable.

[michaelbrown-bhlx]

they didn't say how many people will get it, who will pay for it, like black Friday Walmart selling smart phones for $25 but they only had five in stock..

[jonreeves]

Listen, 2 policies:

1 give 25000 to first time home buyers. This will necessarily increase the purchase price of all homes.

2 tax the increased value of home as capital gains. The first policy guarantees the government this tax revenue.

The gov’t is going to charge you money for a problem they created. That’s called racketeering. It’s a crime if anyone else does it.

[seabliss]

You apparently didn't read the program. That money is not for you if anyone in your family has ever owned a home. First generation home buyer not first time home buyer. It's designed to give illegal immigrants more of your tax money.

[Cobbmtngirl]

It’s awesome but where will that money come from?

[stumpingrimy]

on board if it actually help the people buying. but its more likey going to help sellers get an extra 25k.

[severinevans]

And how will Kamala pay for this? Where is the money going to come from?

[aaronrodriguez]

This is a terrible idea. All this will do is increase housing prices by 25k. If she really wants to help housing costs she should build more houses, make it illegal for big corporations to buy houses, and finally make it illegal for other countries to buy houses on american soil. Do this will drastically reduce housing prices. P:S this is coming from someone who's voting Harris and has a bachelor's in economics.

[Titus]

Taxpayers dont want to pay for your house. Get a better job or another one.

[enoughyoutube]

Why would you think that a person that chooses to live in Northern New Jersey, where houses are $700k, get a tax break or down payment assistance?

I bought my house three years ago and I had to put down my own down payment out of my own pocket. What about people like me? Would it be a better plan just to cut taxes overall. So that one demographic doesn’t reap all the benefits and another never gets anything.

[Godsandonly]

👏 👏 👏 👏 👏
However, a $700k home is not a "starter home", or what someone would consider "their first home". 😅

[PremierCCGuyMMXVI]

I actually think the $25, 000 for all first time buyers is a pretty bad idea. Even if it were a loan it would likely increase interest rates and housing costs. But I do think Harris’ plan for price gouging and especially building 3m+ new homes in the housing supply would definitely bring down housing costs.

[cyclelaw]

It’s a real big deal assuming your parents never own a home or your spouse parents never own home it’s a joke and it’s targeted towards certain people

[carlzobel]

The implementation of Harris’ down payment assistance program raises several logistical questions that remain unanswered. For instance:

Eligibility: Who specifically qualifies for this financial aid? Will the program be tied to income levels or geographic regions?

Disbursement: How will the assistance funds be distributed? Will it be a direct tax credit, or will it work differently?

Impact on Immigrants: Could potential citizenship requirements exclude undocumented individuals from accessing these funds, given existing barriers to home financing?

[kutiek]

She’s not giving the money. It’s a tax credit. You still have to come up with your down payment on your own and get it back later.