NYC will give poor people $100,000 to buy a house

[Saltwater60]

Man sure sounds like being poor these days is looking better and better.

NYC is offering low-income, first-time homebuyers $100K toward down payments | 6sqft

NYC will offer up to $100,000 toward down payments or closing costs to first-time homebuyers who earn up to 80 percent of the area median income.

www.6sqft.com

 

[TEOTWAWKI inc.]

Is this on top of the $40k or $60k biden wanted to give?

 

[Deplorable Me]

If you don't have basic handyman skills you have no business owning a house. Otherwise the place goes to crap over the years. Might as well piss over Niagara Falls the way they blindly hand out money.

 

[Pissed Off Patriot]

YOUR tax dollars at work.

Good luck!

 

[tirwin1]

So housing is unaffordable because of high prices. So giving people who otherwise can't afford homes $100,000 will do what to demand and therefore what to home prices?

The stupid, it burns.

 

[Stuckinny]

So housing is unaffordable because of high prices. So giving people who otherwise can't afford homes $100,000 will do what to demand and therefore what to home prices?

The stupid, it burns.

Same outcome as college. Gov gave more money, prices went up, causing gov to give more money, causing prices to go up, causing.....

Same outcome as healthcare. Gov gave more money, prices went up, causing gov to give more money, causing prices to go up, causing.....

Same outcome as retail during the pandemic. Gov gave stimulus prices went up, causing gov to give more stimulus, causing prices to go up.

Now look at unemployment and wages and inflation.

Anyone else seeing a trend here?

 

[spat]

Same outcome as college. Gov gave more money, prices went up, causing gov to give more money, causing prices to go up, causing.....

Same outcome as healthcare. Gov gave more money, prices went up, causing gov to give more money, causing prices to go up, causing.....

Same outcome as retail during the pandemic. Gov gave stimulus prices went up, causing gov to give more stimulus, causing prices to go up.

Now look at unemployment and wages and inflation.

Anyone else seeing a trend here?

yea, a trend of economic illiteracy in government officials.

The laws of economics are as immutable as the laws of physics.

If you think you can violate them, that just means you do not understand them.

You might as well try to legislate a bridge use half as much concrete to save your budget. The bridge needs as much concrete as it needs, it DGAF about your budget.

 

[Acer-m14]

There are Homes in NYC for SALE .. i don't believe it .. lol ..

 

[TEOTWAWKI inc.]

 

[MothMan]

There are Houses in NYC for SALE .. i don't believe it .. lol ..

FIFY, I don’t think you can buy a Home.

 

[Saltwater60]

Is this on top of the $40k or $60k biden wanted to give?

I don’t know about that but it’s a city program so I would say yes. The old amount was $40,000/article and they bumped it to $100,000.

 

[Saltwater60]

Same outcome as college. Gov gave more money, prices went up, causing gov to give more money, causing prices to go up, causing.....

Same outcome as healthcare. Gov gave more money, prices went up, causing gov to give more money, causing prices to go up, causing.....

Same outcome as retail during the pandemic. Gov gave stimulus prices went up, causing gov to give more stimulus, causing prices to go up.

Now look at unemployment and wages and inflation.

Anyone else seeing a trend here?

This is very true. Excelsior scholarship happened and price of college shot up a lot. Same with Obummer care.

 

[MothMan]

Area Median Income - HPD

www1.nyc.gov

 

[MothMan]

What’s Driving the Huge U.S. Rent Spike? — Bloomberg

Rent increases of 20% or more are making life difficult for low-income tenants in many cities, just as eviction bans and unemployment relief are running out.

apple.news

Going to be more homeless…

 

[TEOTWAWKI inc.]

What’s Driving the Huge U.S. Rent Spike? — Bloomberg

Rent increases of 20% or more are making life difficult for low-income tenants in many cities, just as eviction bans and unemployment relief are running out.

apple.news

Going to be more homeless…

Poor people will be able to buy the homes that middle income folks can no longer afford.

We are living in some strange times.

 

[Stuckinny]

My question is, who is going to pay the taxes? Was reading an article the other day about a lady who had her home redone by one of those shows. Sure enough the cameras left and the tax assessor showed up. Taxes on this now beautiful home skyrocketed and she lost it.

I can see a bunch of houses in NYC being confiscated for back taxes. At that point, they will have to take these properties off the tax rolls so these folks can actually keep the houses. Taxes for the rest will go up to cover.

A vicious circle.

 

[masterswimmer]

My question is, who is going to pay the taxes? Was reading an article the other day about a lady who had her home redone by one of those shows. Sure enough the cameras left and the tax assessor showed up. Taxes on this now beautiful home skyrocketed and she lost it.

I can see a bunch of houses in NYC being confiscated for back taxes. At that point, they will have to take these properties off the tax rolls so these folks can actually keep the houses. Taxes for the rest will go up to cover.

A vicious circle.

More like a planned event.
It's a way for housing to transfer from private ownership to government ownership. If you can afford the taxes and carrying costs of home ownership then you're wealthy and will pay the price with Bugs Bunny's (AOC) plan to tax the rich. If you can't afford it then .gov will take care of you.

All part of the master plan.

 

[pshift]

#fakenews unlessthey give ALL current NYS homeowners $100K also to pay down their mortgages (or to use for other purposes)...

 

[Dr. Evil]

Now they just have to come up with the other $700,000 for the down payment.

 

[masterswimmer]

#fakenews unlessthey give ALL current NYS homeowners $100K also to pay down their mortgages (or to use for other purposes)...

Why would that be a requirement? When they forgave the student loans they didn't reimburse me for the loans I paid off 35 years ago. They didn't reimburse my son and daughter for the loans they paid off only two to three years ago.

Instead they inflate the national debt geometrically to give a piddly couple of grand 'stimulus' to every man, woman, other, child, illegal immigrant, to buy votes and provide virtually no real help with those funds.

 

[Carlos Hathcock]

Free shit always gives people motivation to better themselves. Proven fact.

 

[Saltwater60]

Poor people will be able to buy the homes that middle income folks can no longer afford.

We are living in some strange times.

The plan is to make poor people and middle class people have the same real salary. They want us to depend on the government as well. If that happened it’s a done deal and total democrat victory.