Harris to propose up to $25K in down-payment
support for 1st-time homebuyers
ABC News,
by
Selina Wang
&
Gabriella Abdul-Hakim
Original Article
Posted By: Dreadnought,
8/16/2024 12:13:21 AM
When Vice President Kamala Harris unveils her economic policy proposals in Raleigh, North Carolina, on Friday, it will include a proposal to provide up to $25,000 in down payment support for first-time homebuyers, according to a campaign official.
The campaign is vowing that during its first term, the Harris-Walz administration would provide working families who have paid their rent on time for two years and are buying their first home up to $25,000 in down-payment assistance, with more generous support for first-generation homeowners. In a preview statement obtained by ABC News, the campaign says, "Many Americans work hard at their jobs, save, and pay their rent on time
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Reply 1 - Posted by:
stablemoney 8/16/2024 12:37:24 AM (No. 1778767)
No need to work. Harris will print the money.
55 people like this.
Reply 2 - Posted by:
Northcross 8/16/2024 12:38:50 AM (No. 1778770)
Try going door to door and see if your neighbors will pitch in. Probably not. But Kamala will force your neighbors to contribute.
63 people like this.
Reply 3 - Posted by:
Lala 8/16/2024 12:39:52 AM (No. 1778773)
And you’ll pay for that how? Promising more handouts is not the way to fix the economy. Nothing more than vote-buying with my hard-earned money.
70 people like this.
Reply 4 - Posted by:
sg 8/16/2024 12:45:51 AM (No. 1778776)
I worked 3 jobs to be able to buy my house. How is her giveaway going to square with all those who scrimped and saved and sacrificed to buy their home? Student loan forgiveness on steroids...and for the record, I paid back my student loans.
70 people like this.
Well, the price of homes just went up $25,000.
103 people like this.
Reply 6 - Posted by:
DaBigGuy 8/16/2024 1:02:20 AM (No. 1778784)
There is absolutely no economic upside to this asinine proposal, unless you already own a house. This is just pandering to the low info crowd.
42 people like this.
Reply 7 - Posted by:
caljeepgirl 8/16/2024 2:25:27 AM (No. 1778789)
What?!?!?!?!
21 people like this.
Reply 8 - Posted by:
valinva 8/16/2024 2:27:44 AM (No. 1778790)
Do Illegals qualify for this along with their free health care?
44 people like this.
Duh. The price of a new house will go up by at least $25k, but probably higher as demand will increase when there is already a shortage of houses in the market.
35 people like this.
Reply 10 - Posted by:
mifla 8/16/2024 4:54:36 AM (No. 1778808)
Vote buying scheme. The results will be:
1. Foreclosures will increase, as families who otherwise could not afford the down payment will default.
2. House prices will go up, much like college tuition went up when Obama handed out loans like candy.
3. Inflation will continue as more money gets poured into the economy.
4. The country goes deeper into debt.
That being said, the sheeple will love it.
40 people like this.
Reply 11 - Posted by:
JimBob 8/16/2024 4:58:04 AM (No. 1778811)
#5 and #9 nailed it.
Each seller will raise their price to get as much money as the buyers can afford.
It's called 'supply and demand'.
Something similar happened in the 'Liar-Loan' days.... The 'Rats -led by Zero- forced Fannie and Freddie to make big loans available to people that they KNEW could not pay them back, everyone suddenly could borrow a bunch more money, and house prices went up accordingly. Disaster followed..... and if this program is enacted, it will again.
32 people like this.
Reply 12 - Posted by:
anniebc 8/16/2024 5:22:33 AM (No. 1778828)
Inflation, poster #5. Price of homes just went up $75. That's what happens when government says they're here to help. Remember this question: why isn't she doing it (whatever it) now?
15 people like this.
Reply 13 - Posted by:
Strike3 8/16/2024 5:26:09 AM (No. 1778831)
Just what we need, another welfare program. Step 2 would be the selection of those who "qualify" for the "support" and we all know who that is.
23 people like this.
Reply 14 - Posted by:
ARKfamily 8/16/2024 6:00:56 AM (No. 1778860)
Kind of reminds me of the elementary school elections. Something free gets them elected.
16 people like this.
Reply 15 - Posted by:
Trigger2 8/16/2024 6:15:28 AM (No. 1778876)
What BS. Spend more money and keep inflation up. That's demonrats for you. No common sense whatsoever.
15 people like this.
Reply 16 - Posted by:
privateer 8/16/2024 6:42:14 AM (No. 1778901)
FTA: ' ...with more generous support for first-generation homeowners." Hmmm, which group of people have lived here for generations and never managed to own a home? And then there are those who just arrived, automatically 1st gen. Regular Americans? Take a hike!
20 people like this.
Reply 17 - Posted by:
Mcscow sailor 8/16/2024 6:52:08 AM (No. 1778906)
Bad economics, immoral concept, probably unconstitutional. Expect more of the same from the lame brain
17 people like this.
Reply 18 - Posted by:
singermom9 8/16/2024 6:54:28 AM (No. 1778907)
To all RESIDENTS (illegals) in America?
Another VOTE-BUYING scheme. She knows how to pick winners and losers. Work hard and play by the rules is stupid under dems. They just GIVE you money. Don't fit a category? She will make up a NEW program.
15 people like this.
Reply 19 - Posted by:
Red Jeep 8/16/2024 7:04:28 AM (No. 1778910)
Liberal standard operating procedure: cause a problem, then rush to the rescue with their favorite socialist solution.
24 people like this.
Reply 20 - Posted by:
bpl40 8/16/2024 7:20:38 AM (No. 1778917)
'Would provide"? From where? We are already being asked to pay for other people's student loans. Now we are paying for their house downpayment?
23 people like this.
Reply 21 - Posted by:
Lazyman 8/16/2024 7:59:23 AM (No. 1778929)
To fundamentally transform the country it is necessary to bankrupt it.
25 people like this.
Reply 22 - Posted by:
skacmar 8/16/2024 7:59:35 AM (No. 1778930)
So is this before or after she pays off their student loans? And what about the first generation carve out? Kamala is giving extra money to our new mostly illegal first generation home buyers. How about getting interest rates down and the economy booming again, with no government interference, and just let the market handle it.
16 people like this.
Reply 23 - Posted by:
Jethro bo 8/16/2024 7:59:47 AM (No. 1778931)
All these freebies for young voters is getting ridiculous. First, workers that either never went to college or already finished college and paid their way get stuck paying for Diaper Joe's vote buying loan forgiveness. All those worthless degrees like gender studies, perverted sex studies, and studies based on race are paid by people that never had a thing to do with those degrees and will not benefit from those degrees. And the jerks that have those worthless degrees will continue to be unemployed and worthless to the country. Which will be the next big Democrat vote buying scheme for middle aged worthless college graduate bums!. Now they intend to buy votes for home buying. Bet we see another financial collapse of the mortgage industry just like we did under Jimmah Carter and Slick Willie. Can't wait until the Democrats create another depression just like my parents lived through. They talk like it was so much fun not having a thing!
16 people like this.
So this stupid woman cannot recall back as early as 2008 to recall what happened when people bought houses that they could not afford ? Maybe she also has dementia
19 people like this.
Reply 25 - Posted by:
Mizz Fixxit 8/16/2024 8:10:28 AM (No. 1778942)
Democrats can say this plan is going to be paid for with a billionaire tax. Buy votes, stir up class envy —- that’s what communists do.
16 people like this.
Reply 26 - Posted by:
philsner 8/16/2024 8:12:53 AM (No. 1778947)
I'm from the government, and I'm here to help you.
12 people like this.
Reply 27 - Posted by:
franq 8/16/2024 8:24:25 AM (No. 1778959)
More free money. It never ends with leftists.
11 people like this.
Reply 28 - Posted by:
jigzsaw 8/16/2024 8:33:08 AM (No. 1778967)
More spend and tax. Tax. And then tax again. My liberal friend told me she had no idea Joe Biden was in the decline he was in. She’s an intelligent woman who gets her news from liberal sources. I told her she needs to expand her reading and news watching to get the truth.
I don’t know how we counter the left when they really don’t want to know the entire truth. They’re content to being duped.
13 people like this.
Reply 29 - Posted by:
NorthernDog 8/16/2024 8:34:12 AM (No. 1778968)
How will they verify that rent has been paid on time for 2 years? A lot of younger people move around or are living in mama's basement still. The worst part is that the lower end of the housing market will see prices jump.
10 people like this.
Reply 30 - Posted by:
Dodge Boy 8/16/2024 8:44:32 AM (No. 1778976)
How brilliant, Kamalie. $25k printed right out of thin air. Just wondering though - what's with the Fox News headline on L.Com's home page. Jonah must be running the site these days?
12 people like this.
Reply 31 - Posted by:
preciosodrogas 8/16/2024 9:00:41 AM (No. 1778988)
Says right there, "this will make rents and mortgages cheaper." What a glorious country we live in. /s
It's a very exciting plan but it fails to explain the cost of such and where the money will be coming from to afford it. Using the definition for being bankrupt - unable to pay debts as they become due - we as a nation are broke, we don't have any money - just ask FEMA. This plan implies this it will be a permanent expense and ill defines its universe of beneficiaries; it's open ended. I love magic, I really do, it's very entertaining, but this plan beats magic hands down.
12 people like this.
Reply 32 - Posted by:
marbles 8/16/2024 9:04:51 AM (No. 1778993)
This proposal , like everything the dems put forth, is not reality based. It's all about style over substance. They have no interest in the consequences of bad economic policy.
13 people like this.
Reply 33 - Posted by:
Rumblehog 8/16/2024 9:08:15 AM (No. 1778994)
Hey Kamala-lala you just imported 22 million ignorant people known for building their own homes out of whatever they find or steal. Eventually the USA will begin looking like the outskirts of Mexico City where the playing card houses are stacked one atop the other up the hills covering the land so tightly that not even one blade of grass can see the sunlight.
11 people like this.
Reply 34 - Posted by:
The Remnants 8/16/2024 9:14:22 AM (No. 1779000)
Does this Congress ever get their credit card bills, or do they just never open them? They go around saying "charge it, charge it" and they are borrowing money way beyond their credit card's limit. They seem to have this concept of, "It's not my money I'm just borrowing it from somebody. I don't know who, but it is not my money." Yes, it is. Do these people know that when you borrow money, you are always charged interest, and you have to pay back what you owe, plus the interest. Our deficit - what we owe SOMEONE - is 30+ TRILLION DOLLARS!!! That's not talking about the interest on the money. I believe that is what is called "deficit spending", i.e., you are spending (borrowing) money you do not have. So they will raise taxes to get some money, or write some new stupid regulation to get more money. I don't know that much about what I am writing about, but I know enough to be concerned for this country and our children's children's futures. Are any of these people accountants? p.s. I paid off my student loans too. It never occurred to me not to, and I balance my checkbook all the time so I never write a check when there is no money in my account. I cannot comprehend the idea of "deficit spending". Must have been created by some gambling addict.
13 people like this.
Reply 35 - Posted by:
red1066 8/16/2024 9:18:24 AM (No. 1779002)
I guess with their Chinese connections they figure they can run up the national debt another 20 trillion.
9 people like this.
Reply 36 - Posted by:
Ida Lou Pino 8/16/2024 9:24:40 AM (No. 1779005)
Do they get my 25 grand AFTER I pay off their student loans?
I've got to know - - because right now I don't have enough dough to pay for it. Are they still hiring senior greeters at Walmart?
13 people like this.
Reply 37 - Posted by:
Lawsy0 8/16/2024 9:27:40 AM (No. 1779007)
Christians and Caucasians need not apply.
13 people like this.
Reply 38 - Posted by:
kono 8/16/2024 9:29:42 AM (No. 1779009)
Every time they extend us a hand, watch and notice that they are taking more than that from us with the other hand. The Demcommie two-step: one step forward, two steps back... (ain't that progress!)
Like with their minimum wage hike -- the inflation triggered by their profligate spending makes the effective change to their wages negative. People who weren't around during Jimmy Carter's time of stagflation should notice that this is the destructive effect of inflation on a whole society. Don't be so cavalier about letting inflation sit on us.
10 people like this.
Reply 39 - Posted by:
nwcudagal 8/16/2024 9:49:42 AM (No. 1779022)
The issue I have with this is that a down payment is only part of home ownership. What about taxes, insurance, maintenance, etc.? We all know how this will turn out. Not taking into account how many unqualified recipients will get the free money.
9 people like this.
Reply 40 - Posted by:
DiegoDude 8/16/2024 10:01:27 AM (No. 1779026)
Isn't that special. The real question is, will these "first time home buyers" qualify for the financing from a bank? Bet she hasn't thought this through.
9 people like this.
Reply 41 - Posted by:
MickTurn 8/16/2024 10:41:46 AM (No. 1779051)
Democraps riding in to save the day after they burned down the Economy. They always do it with OUR MONEY, STOLEN from us by Crooked Politicians, ENOUGH, END THIS FIASCO!
5 people like this.
Reply 42 - Posted by:
Zigrid 8/16/2024 10:52:38 AM (No. 1779065)
They are getting desperate...this is only talking points for the convention...it will never go beyond the talking stage...it's just a sweeting of the voter pot...like the college free talk...and the extra funding of Hamas...looks like Michigan and Minnesota are becoming a problem...as President Trump holds news conferences and puts out his plans for America....
6 people like this.
Reply 43 - Posted by:
franq 8/16/2024 11:01:52 AM (No. 1779071)
"... content to being duped."
Re: #28 I think they suspect the real truth would terrify them out of their minds.
5 people like this.
Reply 44 - Posted by:
JHHolliday 8/16/2024 11:20:22 AM (No. 1779094)
I remember those 'Liar-Loan' days that #11 mentions. Little mortgage broker outfits popped up overnight. You could walk into one and say you made a hundred grand a year which was four times what you actually made and the broker just filled out the application, sent it to Fannie & Freddie and you got the loan. There was no way the applicant could pay it back, of course, so they lost the house with the resulting humiliation and credit damage. A bank CEO told me it was immoral to loan money to people who couldn't pay it back and he was right. The huge crash followed and our local little daily paper was running 15 pages of legal ads a week just for the foreclosures.
6 people like this.
Reply 45 - Posted by:
conservincali 8/16/2024 11:37:09 AM (No. 1779109)
The only answer they can come up with to fix the problems they create (young people can't or won't save money) is to take more money and give it away.
5 people like this.
Reply 46 - Posted by:
swarfer 8/16/2024 2:58:19 PM (No. 1779215)
CONGRATULATIONS HOMEOWNERS! If this happens and you have an affordable home, you just picked up $25K on your valuation, and with a surge in demand, another 20% to 30%. AND MORE GOOD NEWS! As parents and grandparents you wouldn’t have to save to help the kids get their first home. Everyone is a winner and the kids get to pay off their mortgage with ever more worthless inflated dollars over 30 years. Never underestimate the power of government to create money out of thin air while destroying real wealth. The next proposal will be fully government funded home ownership if you have at least two mortgage defaults within the last ten years. No need to work for decades to achieve financial security as others have in the past. Simply vote yourself there, you deserve it.
4 people like this.
Reply 47 - Posted by:
whyyeseyec 8/16/2024 3:22:54 PM (No. 1779241)
What Harris isn't telling you is this is mainly for the minority population, because you know...... equity
3 people like this.
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