4 ms·
The title doesn’t do this justice: the offer is 10% of a home for free if you live there at least 5 years, and the only caveat listed is that you need to be mak
by nopassrecover 4y ago
The title doesn’t do this justice: the offer is 10% of a home for free if you live there at least 5 years, and the only caveat listed is that you need to be making 80% or less of the median local salary.
Surely this has to be inflationary on prices.
If I compare to the Australian market this would be massive, but I’m led to believe US housing is a lot more affordable, and imagine the loans that would be offered to moderate to lower income earners would also be lower, so it might be akin to first home buyer grants we’ve had for $20k ish.
- hedora 4y agoCalifornia housing prices are astronomical. I wonder what parts of the state (if any) have avaliable housing stock that's cheap enough for the loan recipients that meet the income requirents to make monthly payments. Maybe somone that's independently wealthy and not working could use this program?
- DarylZero 4y agoMaybe they can make income for the payments by living in the garage and renting out the living areas.
- wil421 4y agoWhat about people with multiple families in one house? I know Hispanic communities tend to have multigenerational households with even adult siblings living together. It’s also more common with lower income households regardless of background.