California, a state with the most illegal aliens, wants to give the noncitizens up to $150,000 to buy a house.
The state legislature will likely pass the bill by August 31. From Politico:
Democratic Gov. Gavin Newsom, a top surrogate for President Joe Biden and Vice President Kamala Harris, declined to say whether he would sign the measure if it clears the statehouse by the Aug. 31 deadline. He would likely make a decision while Republican nominee Donald Trump criticizes Harris over the influx in migrants at the U.S.-Mexico border early on in Biden’s tenure and as Harris moves to the right on immigration.Harris, in her DNC acceptance speech Thursday said the country can “live up to our proud heritage as a nation of immigrants, and reform our broken immigration system.” While the California proposal targets prospective homebuyers and not new migrants, it could nonetheless carry a political risk for Harris by providing fodder for Trump as he seizes on anything that could link his opponent to the border crisis.
The Democrats really want another 2008 burst, don’t they? Oh wait, it’ll work out this time, right?
Sheesh. The thing is, the government should not be giving people any money to buy a house. Giving the money to only noncitizens is just the cherry on top (emphasis mine):
The bill’s author, Fresno Democrat Joaquin Arambula, countered that the bill specifies applicants must meet requirements set by the Federal National Mortgage Association, or Fannie Mae, including having a taxpayer identification number or social security number to apply for a loan, which means they’re taxpayers.“It isn’t given out willy nilly to just anybody,” Democratic Assemblymember Eloise Gómez Reyes said at the June hearing.The loan program, called California Dream for All, provides 20 percent in down payment assistance, up to $150,000. It is a shared appreciation loan in which the only interest the homebuyer pays would be 15 or 20 percent of the home’s increase in value upon selling the property, depending on their income level. The program has received state funding but is also run by the California Housing Finance Agency, which generates revenue through mortgage loans and not from taxpayers.
Taxpayers don’t fund the California Housing Finance Agency?
Interesting: “CalHFA is a self-supported state agency that doesn’t rely on taxpayers’ dollars for its operational costs but regularly administers various state and federal resources on behalf of the state.”
“State and federal resources.” In other words…money from taxpayers, right?
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