Harris plan to provide $25,000 for first time home buyers likely to reduce home prices, according to mortgage and real estate professionals.
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Mastodon Migrationwrote last edited by [email protected]
Harris' housing plan including $25,000 for first time home buyers likely to reduce home prices, according to mortgage & real estate professionals.
"It’s a bold plan – but one that’s seemingly popular, with... 80% of Democrats and even 20% of Republicans are in favour of it.
But what about the mortgage industry? [Experts see] great potential in the introduction of Harris’s $25,000 Down Payment Assistance Plan - a real boost for first-time homebuyers."
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Steven Bodzinreplied to Mastodon Migration last edited by
@mastodonmigration @KamalaHarrisWin wait how would this reduce prices
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@mastodonmigration @KamalaHarrisWin
My VA loan was great; everyone should get the same. -
@Nazani @mastodonmigration @KamalaHarrisWin
one of the kids' friends just had her loan turned down because her company refused to give her a letter saying she was working remote. Fucking ridiculous bullshit.
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Mastodon Migrationreplied to Steven Bodzin last edited by [email protected]
Sorry, should have been more clear. Her housing plan also calls for incentivizing construction of millions of new homes, increasing the supply of affordable homes. Taken together people with less income will therefore be able to afford the down payment on these more affordable homes creating a net reduction in housing prices.
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Tim Ward ⭐🇪🇺🔶 #FBPEreplied to Mastodon Migration last edited by
@mastodonmigration @guacamayan @KamalaHarrisWin Yes, you have to read the article to spot that.
By itself, without the additional house building, a $25k subsidy will simply put *up* prices by $25k.
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@mastodonmigration @KamalaHarrisWin Is there a suggested mechanism for it *reducing* house prices?
It’s seems like a good idea, but I’m surprised that’s an expected effect.
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Steven Bodzinreplied to Tim Ward ⭐🇪🇺🔶 #FBPE last edited by
@TimWardCam @mastodonmigration @KamalaHarrisWin sometimes clicking the link is just too much work
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Mastodon Migrationreplied to Tim Ward ⭐🇪🇺🔶 #FBPE last edited by
@TimWardCam @guacamayan @KamalaHarrisWin
Yes, again apologies. Edited the post a little. The key thing here is that it is an affordable housing plan. The idea is to make home within reach of first time homebuyers by increasing supply and making the loan assistance. She also proposes harsh penalties for corporations buying up inventory and using these market positions to keep prices high.
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Mastodon Migrationreplied to Steven Bodzin last edited by
@guacamayan @TimWardCam @KamalaHarrisWin
Actually, thanks for the question. As it was it was counter intuitive. Appreciate the opportunity to clarify.
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Mastodon Migrationreplied to johnaldis last edited by
See above in comments. Yes, apologies for the counter-intuitive post. Her plan also includes a huge increase in supply and prohibitions for market manipulation by corporate housing speculators.
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CynthesisTodayreplied to Mastodon Migration last edited by
@mastodonmigration @guacamayan @KamalaHarrisWin
Seems like the removing of tax benefits for investors ("Stop Predatory Investing Act") could convert rentals into supply of affordable homes, too.
Yay for some specifics that seem to provide substantive solutions,