That’s great and all, but 5 grand won’t even make a dent in the money you’d need to put as a down payment to get a mortgage that you can actually afford to pay.
Build more houses, please. Especially more low and middle income complexes. The government is the only entity that has the ability to do so, because the private sector can’t make money off of low income sales.
This is just paying lip service to the problem, not solving it.
A tax credit of $5k for a house that is overvalued by $300k-$500k with like 7% baseline mortgage interest?
Fun stuff.
The housing crisis won’t end until (among other things) corporations cannot freely own limitless numbers of single family homes. We will see perpetual renting because it’s effectively passive income for the corporations, and they have deeper pockets than 99.9% of individuals.
As companies own more and more, but don’t sell, supply dwindles, and the bubble never bursts.
Trolls seem to be saying nothing is better than something. Didn’t he just lower the credit card penalties? Didn’t he lower the cost of insulin?
Wow, 2-4* whole months of payments on a 30 year mortgage, what an incentive! /s
(*Depending on location)
You don’t get it obviously.
This helps people right on the cusp of being able to close on a house. 5k can make the difference in so many cases.
Keep being stupid, stupid.
Great for all 1-2 thousand of them. For the rest of us it means fuck all to take 5K off the top of a deposit on a 500K house, nor does it make it make sense for a landlord special “remodel” from a house flipper to cost as much as much as it does.
Housing as an investment model is bullshit.
We tried this in Oz. House prices immediately go up 5k.
Government effectively funding the housing bubble.
You’ve gotta be fucking kidding me. We just bought our first home last year and found out then that the tax credits I grew up hearing about ended several years ago and now it’s back now that I’m no longer qualified :|
You own a home, why are you disappointed about this?
Humans are fucking weird, man.
Uhhh because it’s not fair? Humans are kind of obsessed with that concept
The only reason we should we looking into other people’s bowls is to make sure they have enough.
How is this ‘not fair’? You’re so obsessed with perceived loss of personal gain that you lose sight of the greater good.
It’s crab mentality.
It’s good that other people get a subsidy. It’s also disappointing that you don’t. Both can be true.
Nothing is “fair”. Stfu
No need to be rude. You can make your point easily without it.
Biden throwing Americans the smallest bone possible with this tax credit. The ruling class has no interest in offering anything meaningful unless forced.
Great. Now Biden’s supporters are gonna act like housing is solved forever.
