This is nothing new if you look outside the US. Help To Buy Equity Loan did this with new houses (the buyer technically had to provide 5%, but that was often g

This is nothing new if you look outside the US. Help To Buy Equity Loan did this with new houses (the buyer technically had to provide 5%, but that was often given by the developer) 10 years ago, it's only just finished. The government part was 40% in London due to the insane prices there. https://en.wikipedia.org/wiki/Help_to_Buy https://en.wikipedia.org/wiki/Help_to_Buy The idea behind it is quite reasonable. People couldn't afford to save up for a deposit because all their money went in rent, which was higher than the cost of an equivalent mortgage + home maintenance. Certainly helped me break out of the earn->rent cycle.