The Market Ticker - Housing Inflation? Buy Half A House
I thought I’d seen stupid but no, they keep coming up with better and better idiots.
A coalition of seven Democratic senators formally announced the “California Dream for All” program last week as part of a larger budget proposal they want Gov. Gavin Newsom to consider.
The state would serve as a “silent partner” to first-time owners, in exchange for up to 45% ownership of a house. By their calculation, that means someone eyeing a $400,000 home could buy it for “a more affordable price” of $220,000, with the state picking up the other $180,000.
Note the terms; yes, you put up 55% but you only own 55% of the house.
The…….
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Source: https://market-ticker.org/akcs-www?post=242648
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