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CKA Uber
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 Vancouver Canucks
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PostPosted: Tue Jul 09, 2019 5:44 am
 


Title: Kamala Harris unveils plan to spend $100 billion on housing loans to close the racial wealth gap
Category: Uncle Sam
Posted By: N_Fiddledog
Date: 2019-07-08 13:03:35


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CKA Uber
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PostPosted: Tue Jul 09, 2019 5:44 am
 


I guess it's true when they say there's nothing new under the sun but still, it's pretty sad when Presidential hopefuls can only trot out innovative ideas created in 1938 to buy votes.

Although, it might behoove her to pick up a history book and see just how successful this Fannie Mae Freddie Mac program really was for certain people on Wall Street. Well at least until the rest of the country eventually got the privilege of paying off these bad loan debts that the program created just to keep the country afloat.

Quote:
Harris vowed to 'remove the barriers' that Black Americans face when trying to qualify for a home loan.


I'm sorry but it's not just "black" people who have barriers to home ownership. It's everyone who has issues with income, equity, credit score, credit ranking and all those other pesky things that are currently preventing unqualified people from floating loans of hundreds of thousands of dollars.

So, she'd be much better off trying to implement a program that got these black people jobs and opportunities so they could qualify for loans rather than giving them low interest, gov't backed loans so they and their mortage brokers can turn some future date right back into 2008.


But, I do like her woke take on an old idea. I'm sure that by confining these loans to black people and excluding poor white people the program is bound to be a resounding success. :roll:


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Forum Super Elite
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 Calgary Flames
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PostPosted: Tue Jul 09, 2019 6:20 am
 


Home ownership is a pipe dream for a lot of people, mostly due to costs involved, rising prices due to bidding wars, etc. It's not just an American thing either, as it's equally ridiculous up here as well.

It has less to do with race, and everything to do with the markets, greed, and inflation of the market. There is also the issue of people who can't afford a home, and still choose to live beyond their means and ruin themselves while trying to do so.

The dissolution of the middle class doesn't help either. How can people afford a home if they can barely afford to scrape by as it is? I'll never be able to afford a home myself, and even though it has already been out of reach, will continue to get pushed further and further away.

-J.


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CKA Super Elite
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PostPosted: Tue Jul 09, 2019 6:23 am
 


So discount Hillary wants another Government funded bail out.


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