Brb dumbass democrats think this will help with housing prices lmfao. Remember when they did this with electric vehicles and it immediately drove up the prices by the exact amount of the tax credit? Fkn lol. These guys hate poor people so much.Citing rising housing costs in his State of the Union address Thursday night, President Joe Biden said he wants to create a tax credit that would give homebuyers $400 per month.
Biden’s plan would create a $10,000 tax credit, spread out over two years and credited in the form of $400 monthly payments for first-time homebuyers and those who sell their starter homes.
"For many Americans, owning a home is the cornerstone of raising a family, building wealth, and joining the middle class," the White House said in a statement. "Too many working families feel locked out of homeownership and are unable to compete with investors for a limited supply of affordable for-sale homes."
Biden called on Congress to create legislation that would give this tax credit to the middle-class, saying it would be the equivalent of reducing interest rates by 1.5 percentage points. By making it available to those who buy their second home, the administration said it will improve housing supply for those in the starter home market.
As for me, I wouldn’t be too mad. It would literally cause real estate prices to sky rocket, so I’d probably just start selling my rentals to these poor souls for absolute top dollar. Then I’d get another $10k from the government for doing so lol
|
-
03-19-2024, 05:52 AM #1
- Join Date: Jan 2011
- Location: Colorado, United States
- Posts: 22,071
- Rep Power: 539980
Joe Biden plans to force housing prices to skyrocket
See title.
Always Neg Back Crew.
-
03-19-2024, 05:54 AM #2
-
03-19-2024, 05:57 AM #3
-
03-19-2024, 06:29 AM #4
Hopefully Republicans shoot this down.
There are a record number of housing units per capita available in the US... shortages and high prices came because we tripled our money supply in the last 15 years and all that money literally went looking for a home. Injecting more money is the worst thing you could do.
But spending money is the only answer our leaders have had for anything in the past generation. Failing schools, airborne viruses, problems in Ukraine, the answer is always more debt and more spending.FA Crew
Always Pick 1 Crew
"Experience is something you get right after you need it."
-
-
03-19-2024, 06:31 AM #5
-
03-19-2024, 06:34 AM #6
-
03-19-2024, 06:56 AM #7
lol wut? Gonna need a solid source here, Sillie.
First, I didn’t know a president could create laws, pretty sure that is just congress, Sillie. Exec branch can kind of do so through regulations, but have to be delegated authority by congress.
Second, because of 10th amendment, fed gov can only make laws affecting local municipalities in limited circumstances - regulation of building a home would most def be a general state / municipal power. Fed gov could, for example, say “no using asbestos or lead in homes,” but it cannot say “phoenix, you cannot zone new homes for building” lol
EDIT: lol Sillie deleted his post. He said Trump created legislation restricting the building of new homes.modnegged4life
-
03-19-2024, 07:02 AM #8
ok so while blackrock and co, and foreign entities have been buying up real estate all over the country, the Biden admin now moves to subsidize private purchases of these same homes and the elite stand to make massive profits.
I am shocked they would do this.**Misc. Pureblood Crew**
**No Hymen No Diamond Crew**
**Russia/anti-degen Crew**
**Her anus tint tells you everything you need to about her Crew**
Auto-negging posts with instagram/tiktok links and not embedding a single image
-
-
03-19-2024, 07:04 AM #9
-
03-19-2024, 07:12 AM #10
LOL pathetic.
Also, no surprise lefties want to punish the productive people yet again. Productive people:
50% of the population pays 100% of federal income tax
Productive people paid off their student loans and are paying off other people's loans
Productive people with high credit scores are paying more to offset fees for lower credit score people
Productive people are subsidizing healthcare costs for the less productive
Productive people are subsidizing illegals
But yes Joe, please keep tearing down productive people.Sweet dreams, Bunny crew - https://forum.bodybuilding.com/showthread.php?t=166681061&highlight=sweet+dreams+bunny
Avoids horse women like the plague crew
Silently correcting your grammer and spleling crew.
-
03-19-2024, 07:18 AM #11
This is huge. I would think it's a non partisan issue to pass a simple one page legislation barring any foreign entity/to buy residential American property. Clearly no politician wants to take this on as they probably all have their friends overseas who are becoming wealthy on the backs of American families.
Sweet dreams, Bunny crew - https://forum.bodybuilding.com/showthread.php?t=166681061&highlight=sweet+dreams+bunny
Avoids horse women like the plague crew
Silently correcting your grammer and spleling crew.
-
03-19-2024, 07:35 AM #12
It is a problem that housing prices have rocketed much higher over the past 2 years. I have my doubts that this idea byBiden will help all that much.
A better idea is to help with allowing the building of more homes. That's the big problem, not enough houses have been built. Many times to many regulations hinder the building of new places.
Home prices hit a new all-time high in December
US home prices rise again in December as inventory shortage persists
https://www.foxbusiness.com/economy/...-high-december
&
Home construction crisis: Why builders aren’t building
https://www.foxbusiness.com/features...arent-building
....In the years that followed, the Obama administration began to implement a series of regulations that affected builders. From environmental policies to land use and labor policies, Dietz noted that there has been a definitive increase in the regulatory burden for homebuilders and contractors throughout recent years. Dodd-Frank, which aimed to protect taxpayers from another crisis, also made it harder for contractors to get loans from smaller financial institutions.
The NAHB estimates that regulatory costs increased 29% between 2011 and 2016.
These regulations have not only increased costs, but slowed permitting processes.....
-
-
03-19-2024, 07:36 AM #13
Can Joe give us rentcels some money too ?
#11bangbang
Recommended reading:
Mein Kampf (Unabridged Version)
Hitler's Revolution (Richard Tedor)
March of the Titans: The complete history of the White race (Arthur Kemp)
Killing Hope (William Blum)
The Decline of the West (Oswald Spengler)
If I don't post within 48 hours then that means the jews/feds got me and the Misc has been compromised.
-
03-19-2024, 08:04 AM #14
-
03-19-2024, 08:12 AM #15
-
03-19-2024, 08:15 AM #16
-
-
03-19-2024, 08:15 AM #17
-
03-19-2024, 08:17 AM #18
-
03-19-2024, 08:18 AM #19
-
03-19-2024, 08:30 AM #20
Anyone remember when Big Willy re-wrote the Community Reinvestment Act back in 1995.
How did that turn out?Italian Crew
*Ohio State Crew*
Anything easy aint worth a damn. -Woody Hayes
Two things in life right now that I'm aiming for: Getting big and very lean, and the other is making lots of money so I can shove it in peoples faces that didn't give me the time.
Weight: 160-----------Goal: 170-175 @ 7-8% BF
Jays/Buckeyes/Packers/Raptors/Leafs
-
-
03-19-2024, 08:57 AM #21
-
03-19-2024, 09:02 AM #22
-
03-19-2024, 09:19 AM #23
-
03-19-2024, 09:46 AM #24
The media has to manufacture the hate dome for Trump to overshadow the genuine hate millions of people have for Biden, his administration and libtard governors. The lads at the pub who never voted are against Biden and will be voting against him because they were fired for refusing to take the DeathVaxx.
-
-
03-19-2024, 09:58 AM #25
It’s for the first two years of the loan then it goes back to normal, so basically like an ARM for a couple years
Most muricans these days are retardmaxxed and will not use that credit wisely. Also zero chance this doesn’t fuk Americans in some hidden way like the border billCoincel
Florida crew (lol at coldcels)
-
03-19-2024, 10:02 AM #26
-
03-19-2024, 10:03 AM #27
If they were directly sending checks to these people, it might bump up prices on the bottom end. But this just less tax money that people who don't really create budgets in the first place will have to pay.
So when they do something like this, it typically is done to bolster a declining market and bring people off the fence who otherwise might wait and buy in another couple years. If you have even a basic understanding of economics(which you clearly don't), this is a sign of housing weakness not a sign of housing strength.
They see the bottom end of the housing market starting to drop off a cliff right now, and they want to prop it up for another 9 months until the election is over.
-
03-19-2024, 10:07 AM #28
-
-
03-19-2024, 10:09 AM #29
-
03-19-2024, 10:22 AM #30
- Join Date: Jan 2011
- Location: Colorado, United States
- Posts: 22,071
- Rep Power: 539980
Just LOL if you think this won't result in people spending more on mortgages.
Also, literally nothing is starting to "drop off a cliff". Housing prices are actually starting to slowly climb back up in my area. Also, you're wrong about literally everything you post in regard to real estate pricing predictions.
Strong rentcel cope on your end lol.See title.
Always Neg Back Crew.
Bookmarks