this post was submitted on 15 Aug 2024
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Housing Bubble 2: Return of the Ugly
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Here's the thing though: $25k ain't nothing when every house around me is a million dollars.
25k in assistance could mean the down payment on a $250k house. And there are some places going up that are in that range. It might not be perfect, but it's an adequate start.
Ah yes, because we all buy houses on credit, because we absolutely must be beholden to a bank until the end of time.
All of these things are band aids, not solutions.
Edit: and I don't know where you live, but a $250k house simply does not exist here.
If one wants to buy a hous with cash, they need to save up for it while being beholden to a landlord. Might as well use that money to pay off a mortage.