3 ms·
Oh I actually agree with you. It's the hyperbolic, "That $230,000 was taken from the pockets of my non-homeowning friends," grandstanding that gets under my ski
by smeej 3y ago
Oh I actually agree with you. It's the hyperbolic, "That $230,000 was taken from the pockets of my non-homeowning friends," grandstanding that gets under my skin. It's (usually) empty virtue-signalling.
IF someone actually means it, though, (which is a very big IF), taking out a HELOC and giving the money to friends for their own down payments is nothing like giving cash to a stranger with a demonstrated history of ending up without money.
If someone really does think their position is a fortuitous accident, and that their friends are equally deserving, just less lucky, they can settle the score. They can take the fruits of their luck, give it to their friends to afford them the same advantage of home ownership, and place themselves in a financial situation similar to their friends. Similar interest rate. Similar equity in the home. Even things out again.
There might be people who really do believe they should right a wrong, and they have the opportunity.
Realistically, I think it's like the richest people who bemoan the injustice that they don't even pay taxes as high as their hired servants, but wouldn't dream of using the IRS's easily available option to pay more taxes voluntarily.
I don't like it when people get points for pretending they care.