Current Events > this Biden platform kind made me cringe. He can be his own worst enemy at times

(+) Yeah! (+)

https://gamefaqs.gamespot.com/a/forum/a/a9c9463b.jpg

This doesn't seem like the way to do it or is even a good idea.

Still better than what Trump is offering which is nothing but giving Oil Companies free reign.

Explain?

What dont you like about the idea? Are you also against other first time home buyer support?

Heineken14 posted...

Explain?

Combating skyrocketing housing prices isn't done by giving people a check every month. That just means people selling and landlords will get $400 richer a month.

MICHALECOLE posted...

What dont you like about the idea? Are you also against other first time home buyer support?

Think about it like this. Why do houses go up? Because there is people buying. You give a bunch of buyers money to go buy a house, what happens? They go up. Then you have negated the check you gave them.

The solution is regulations and increasing supply by well, undoing regulations like certain nimby zoning restrictions. Also preventing corporate buyouts of homes and programs that monopolize the rent as we know exists.

Yeah, further subsidizing demand isn't needed. What's needed is what post #5 said, an increase in supply.

As long as it is people and not corporations, something sounds like a good idea

WingsOfGood posted...

Combating skyrocketing housing prices isn't done by giving people a check every month. That just means people selling and landlords will get $400 richer a month.

But why would people sell? This is for first time home buyers.

WingsOfGood posted...

Think about it like this. Why do houses go up? Because there is people buying. You give a bunch of buyers money to go buy a house, what happens? They go up. Then you have negated the check you gave them.

The solution is regulations and increasing supply by well, undoing regulations like certain nimby zoning restrictions. Also preventing corporate buyouts of homes and programs that monopolize the rent as we know exists.

This is clearly a bandaid, thats obvious. But when youre working with people who wont allow anything but a bandaid, and a lot of times, not even that, you take what you can get. Blaming Biden for doing something to try to help is backwards. Many first time buyers are going to benefit from this, as have many first time buyers benefited from many first time buyer support. Does it solve all the problems? No. Does it help people in need? Yes.

MICHALECOLE posted...

This is clearly a bandaid, thats obvious. But when youre working with people who wont allow anything but a bandaid, and a lot of times, not even that, you take what you can get. Blaming Biden for doing something to try to help is backwards. Many first time buyers are going to benefit from this, as have many first time buyers benefited from many first time buyer support. Does it solve all the problems? No. Does it help people in need? Yes.

The other issue is whining about free money ruining the economy is a lot more effective than we give it credit for. I disagree and think that line of thinking is stupid but every day I meet another person in real life who buys it.

WingsOfGood posted...

The other issue is whining about free money ruining the economy is a lot more effective than we give it credit for. I disagree and think that line of thinking is stupid but every day I meet another person in real life who buys it.

Yeah, people will complain about other people getting things and why not them? Why didnt they get things?

thats selfish and stupid, as any person who gives a fuck about anybody else will think.

I guess the idea is to put out as many bandaids in enough places to get voters out to get enough people in charge to make change that isnt just bandaids.

probably not gonna happen though. So many idiot selfish fuckfaces in this country

This seems like a good thing, though?

MICHALECOLE posted...

What dont you like about the idea? Are you also against other first time home buyer support?

Subsidizing demand results in higher prices, not lower. To result in lower prices you need to increase supply.

Sounds like someone who grew up in the 50s and 60s. Yes Biden is out of touch with modern adults. His grandchild should give him a talk

uwnim posted...

Subsidizing demand results in higher prices, not lower. To result in lower prices you need to increase supply.

But thats not possible right now. What is possible is helping first time buyers get homes

MICHALECOLE posted...

But thats not possible right now. What is possible is helping first time buyers get homes

It is possible though. And some places are doing it.

MICHALECOLE posted...

But thats not possible right now. What is possible is helping first time buyers get homes

why is it not possible?

MICHALECOLE posted...

What dont you like about the idea? Are you also against other first time home buyer support?

This is not attacking the root problem. Also its not clear how this works with the way its worded. They get 400 a month WHEN they buy a house? So after? Dont they have to qualify first? Or is the aid factored in for the bank approval? Why would the bank approve lending to someone with an artificially higher salary for 2 years?

It just sounds like a lame bandaid just to help maintain property prices from falling and subsidize rich people.

Can other home owners get some of that. Because the government just upped my taxes and it is kicking my ass.

WingsOfGood posted...

why is it not possible?

Republicans

JuanCarlos1 posted...

This is not attacking the root problem. Also its not clear how this works with the way its worded. They get 400 a month WHEN they buy a house? So after? Dont they have to qualify first? Or is the aid factored in for the bank approval? Why would the bank approve lending to someone with an artificially higher salary for 2 years?

It just sounds like a lame bandaid just to help maintain property prices from falling and subsidize rich people.

Yeah, surprisingly a tweet doesnt have all of the context and there will be more provided elsewhere

MICHALECOLE posted...

Republicans

You think Republicans are giddy about giving first time buyers $400 a month?

WingsOfGood posted...

You think Republicans are giddy about giving first time buyers $400 a month?

No, but I think republicans will only let bandaids be passed, or they will not let them be passed and then the democrats can say wow these republicans wont even let bandaids be passed

its just how it is

All they know to do is to pump more money into the system.

1337toothbrush posted...

All they know to do is to pump more money into the system.

Friendly reminder this user posted AGAINST Biden wiping out student loan debt.

When I saw this, my first thought was "Oh, boy all house prices are going to jump $10K"

But then I realized that, honestly, it won't make a difference. Til the housing bubble explodes violently, the whole market is just going to go up and up and up. If people had to buy their current house at the price they paid at just the new interest rates, they wouldn't be able to afford their houses

The whole system is fucked

the other bad thing is that this is a 2 year cushion that will result in many foreclosures when these people no longer get the $400 and realize they cannot afford the payment at this super high interest rate

but they will be rushed to buy because if they wait 2 years for the rate to drop they won't get the free money

just not a well thought out idea

WingsOfGood posted...

the other bad thing is that this is a 2 year cushion that will result in many foreclosures when these people no longer get the $400 and realize they cannot afford the payment at this super high interest rate

but they will be rushed to buy because if they wait 2 years for the rate to drop they won't get the free money

just not a well thought out idea

Or, they wont do that, and itll give many people a much needed cushion to be able to buy their first home.

you can do your best to poke holes in it all you want, but if this happens, many families will benefit. I bought my first home recently in California because of a first time buyer program, and I would not have been able to if it werent for that program. And surprise, there was a lot of people against that too. People have talked shit to me.. to my face, because I was able to buy a home with the program.

WingsOfGood posted...

the other bad thing is that this is a 2 year cushion that will result in many foreclosures when these people no longer get the $400 and realize they cannot afford the payment at this super high interest rate

but they will be rushed to buy because if they wait 2 years for the rate to drop they won't get the free money

just not a well thought out idea

Based on the tweet wording they wouldn't get the money til they bought the house so if they waited for the rate to drop to buy, they'd just get the money later

MICHALECOLE posted...

I bought my first home recently in California because of a first time buyer program, and I would not have been able to if it werent for that program. And surprise, there was a lot of people against that too. People have talked s*** to me.. to my face, because I was able to buy a home with the program.

what kind of program was it?

WingsOfGood posted...

what kind of program was it?

It assisted with the down payment, and while it does have its drawbacks when it comes to resale, without it myself and my girlfriend would still be renting

cjsdowg posted...

Can other home owners get some of that.

That's crab bucket mentality

MICHALECOLE posted...

It assisted with the down payment, and while it does have its drawbacks when it comes to resale, without it myself and my girlfriend would still be renting

why would anyone talk shit to you about it, trying to understand

WingsOfGood posted...

why would anyone talk shit to you about it, trying to understand

Because I live in Northern California which is red as fuck and anybody who takes advantage of anything Gavin Newsome proposes gets shit talked to

theres gonna be plenty of people talking shit to anybody who uses California made insulin

MICHALECOLE posted...

Because I live in Northern California which is red as fuck and anybody who takes advantage of anything Gavin Newsome proposes gets shit talked to

theres gonna be plenty of people talking shit to anybody who uses California made insulin

How tf would they know? Is it going to branded as such? "Calinsulin"?

Also. Who tf cares? What? They want to needlessly pay more to pad the pockets of people who are so obscenely rich that it's a testament that there is no God?

Dudebusters posted...

Friendly reminder this user posted AGAINST Biden wiping out student loan debt.

No I didn't, you obviously have me confused with someone else, because I said he didn't go far enough, which is the opposite of what you're claiming.

wackyteen posted...

How tf would they know? Is it going to branded as such? "Calinsulin"?

Also. Who tf cares? What? They want to needlessly pay more to pad the pockets of people who are so obscenely rich that it's a testament that there is no God?

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1337toothbrush posted...

No I didn't, you obviously have me confused with someone else, because I said he didn't go far enough, which is the opposite of what you're claiming.

Nah. You tried to argue he caused it in the first place, and he was just attempting to bandaid his own problem by throwing money at it and it shouldn't happen. I only remember it because you made the same "throw money at it" comment you did here.

Dudebusters posted...

Nah. You tried to argue he caused it in the first place, and he was just attempting to bandaid his own problem by throwing money at it and it shouldn't happen. I only remember it because you made the same "throw money at it" comment you did here.

I said he was instrumental in causing the problem in the first place and that he was just providing a bandaid because he's just forgiving a tiny fraction of the almost $2 trillion problem which, again, he was instrumental in causing. Forgiving student loans isn't throwing money at the problem because it's the forgiving of debt which the government has already guaranteed (i.e. the money was already thrown at it, so his approach isn't changing anything there). He should be more comprehensive in what he forgives AND he should be putting a solution into place to stop the problem for new students.

So yeah, I said he didn't go far enough and I was never against student loan forgiveness. Please do not misrepresent what I have said.

I see dozens of houses for sale just driving around.

I don't think supply is the problem.

Houses are overvalued and sellers are too greedy to budge on the price.

ZMythos posted...

I see dozens of houses for sale just driving around.

I don't think supply is the problem.

Houses are overvalued and sellers are too greedy to budge on the price.

Many sellers bought in recently (past 5 years) and are now stuck with houses they can't sell because nobody can afford the interest rates.

There's currently approximately 15.1 million vacant homes in the USA. Supply is not an issue.

ZMythos posted...

I see dozens of houses for sale just driving around.

I don't think supply is the problem.

Houses are overvalued and sellers are too greedy to budge on the price.

just cause something is for sale doesn't mean the price or the condition is reasonable

think of it like you can go to ebay and find any item, but the price maybe be like hundreds or thousands above any reasonable price
would you suggest there is plenty of supply? no, that is not supply

WingsOfGood posted...

https://gamefaqs.gamespot.com/a/forum/a/a9c9463b.jpg

This doesn't seem like the way to do it or is even a good idea.

Still better than what Trump is offering which is nothing but giving Oil Companies free reign.

$400/month off a mortgage payment for first two years is pretty nice. Especially when youd probably need it for all the other things that go with a house purchase

The right way to bring housing costs down is rent control (and ultimately abolishing private landlords altogether), which would also indirectly result in falling purchase prices.

MICHALECOLE posted...

Yeah, people will complain about other people getting things and why not them? Why didnt they get things?

thats selfish and stupid, as any person who gives a fuck about anybody else will think.

I guess the idea is to put out as many bandaids in enough places to get voters out to get enough people in charge to make change that isnt just bandaids.

probably not gonna happen though. So many idiot selfish fuckfaces in this country

Yeah, it's depressing how deeply entrenched the "society should never improve or get better for people today because it wasn't like that for me/I won't benefit from it" mindset is within America. Easily the thing most holding us back from joining the rest of the civilized democratic nations aside from right-wingers actively trying to regress society backwards.

WingsOfGood posted...

why would anyone talk shit to you about it, trying to understand

I think you can understand as someone who created this thread to talk shit about a first time buyer program. There will always be people shitting on ideas meant to help people when they don't personally approve of the method.

One of my neighbors proposed a solution to the increasing cost of homes: developers should stop building new homes. She was saying it's all these new luxury homes and apartments that were causing the prices to go up. Also she doesn't want the undeveloped land across the street to be developed and ruin her view

MrAntisocial posted...

One of my neighbors proposed a solution to the increasing cost of homes: developers should stop building new homes. She was saying it's all these new luxury homes and apartments that were causing the prices to go up. Also she doesn't want the undeveloped land across the street to be developed and ruin her view

I don't get how people can say things likev that with a straight face.
If we build no more houses, prices would drastically increase

ZMythos posted...

I see dozens of houses for sale just driving around.

I don't think supply is the problem.

Houses are overvalued and sellers are too greedy to budge on the price.

You're objectively wrong.

rick_alverado posted...

There's currently approximately 15.1 million vacant homes in the USA. Supply is not an issue.

Vacant homes can be homes that are in-between renters when a lease ends.
It can be homes not suitable for living.
It can be homes not anywhere close to a jobs or transit.

https://youtu.be/3xZXdXxYBGU?si=F7zQaUckNbmfDGR_