California To Provide 45% Of Funding To Buy A House

What could possibly go wrong?

This is all supposed to be part of their reparations commission, so, will this only apply to blacks? From the link

California kicked off a two-year study into how the state might compensate African Americans for slavery and its lingering effects on Tuesday, when a newly formed reparations committee met for the first time.

State lawmakers have zeroed in on homeownership as one of the main ways to close the wealth gap between Black and white Californians. On Tuesday, the Assembly and Senate unveiled a joint spending plan — which they’ll use to negotiate with Newsom ahead of the June 15 deadline to pass a budget — that proposes developing a program in which the state would pay for, and own, up to 45% of a home. That would cut the purchase price nearly in half, allowing more families to buy homes and build wealth, lawmakers say. Both Newsom and legislators also proposed setting aside $200 million to facilitate homeownership for first-time buyers and low-income Californians.

As so many have pointed out using Econ 101, this will cause the price of housing to skyrocket even more than it has in California. Will Government build more houses? Where are these homes coming from? Because it worked will with college, right?

Further, government will own 45% of the home. Which means they can dictate all manners of things for your house. And, come in whenever they like without a warrant because they are a part homeowner. Unless the California government puts stipulations in the contract to restrict themselves…yeah, LOL, like they’ll do that.

Where’s the money coming from to pay for this? Taxes will go up. Property taxes will skyrocket. This is insane.

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4 Responses to “California To Provide 45% Of Funding To Buy A House”

  1. Professor hale says:

    Govt subsidies to buyers always leads to higher prices and shortages of those goods. It’s almost as if there is a rule somewhere in special schools for economists.

  2. Conservative Beaner says:

    Instead of kowtowing to environmentalist and getting rid of regulations that kill new housing they want to hand out money they don’t have.

    They will not only finance homes for Americans but for illegals as well.

  3. Professor hale says:

    Of course, if the USA would just end immigration entirely, we wouldn’t need any new houses except to replace ones that get destroyed.

  4. alanstorm says:

    There’s no WAY this could have “unintended consequences”.

    I mean, what are the odds?*

    *if you take this seriously, then bless your heart. Also, don’t vote or breed.

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