July 14, 2024

Biden’s SOCIALISM FOR HOMEOWNERS starts 5/1/23

Mark Tepper discuss the Biden administration’s plan to redistribute high-risk loan costs to homeowners with good credit.

SOCIALISM FOR HOMEOWNERS

SOCIALISM FOR HOMEOWNERS - California real estate - New California Real Estate Tax

The 2006 crash was caused by the same type of government intervention in the free market. Back than the government pushed banks to make risky loans and it caused a real estate bust and almost took the entire banking system down.

This seems criminal to me to add an additional “tax” onto a home loan to punish people who have done all of the right things! Yes, let’s keep finding ways to make responsible hard working people pay the way for financially irresponsible people. How to take away all of the motivation of those who work and save hard.

You cannot screw up a country this bad in two years unless it’s on purpose. Two years later, nothing is built, nothing is back, and nothing is better. If you eat today thank a farmer. If it’s on your table thank a trucker If you eat in peace thank a veteran If you can’t afford to eat thank Joe Biden!

The problem is that there may no longer be grownups that think like Capitalists. All one has to do is look at Disney and Anheuser Busch as recent examples of how far off track Capitalism has swayed off course.

All the recent buyers who locked in at current high rates will be affected down the road when they try to refinance after rates drop. The estimated cost is an additional $40 per month for a $400K house mortgage which works out to $14,400 over a 30 year mortgage term.

If someone cannot be responsible with their money before they buy a home, why do legislators believe they will be responsible after they get a home…that comes with utilities, taxes, maintenance and upkeep. America is dying!

I’m not sure about this yet, but keep in mind this might re-effect anybody who decides to refinance their current mortgage.

Seems to me, this is just another vote buying scheme just like the student loan fiasco.  Yes, be sure to vote democratic in the upcoming election so you get your mortgage payment subsidized and all the other free stuff we need to give you to buy your vote!

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SOCIALISM FOR HOMEOWNERS