Kamala has learned NOTHING, proposes $100 billion plan for black homeownership

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  • Alpo

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    At this point she's lost the color-blind democrat vote. Free houses, reparations, busing.

    I don't know who is advising her, but she needs to get someone else. These are all losing issues with white and latino democrats.
     

    spec4

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    I spent my career mostly loaning money to people first with a loan company, then with a bank. Any lender knows first and foremost that if you loan money to people who can't afford to repay it, they will not repay it.

    Harris is a dirtbag pandering to blacks to insure their vote.
     

    CampingJosh

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    Pretty sure this would violate fair lending laws, since you can't discriminate based on race.

    A new law can change an old law. That's really not an issue at all.

    But the proposal seems to be that the availability of these grants will be based on the location of the house (previously redlined areas) rather than the race of the buyer.

    Which, to me, seems like the proposal is designed to maintain or even strengthen the idea that there are "black neighborhoods" and "white neighborhoods." That in itself could make grants like this less effective at helping black families build wealth: the value of a house is greatly reduced if the pool of potential buyers is reduced to only a minority group of people.
     

    NyleRN

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    At this point she's lost the color-blind democrat vote. Free houses, reparations, busing.

    I don't know who is advising her, but she needs to get someone else. These are all losing issues with white and latino democrats.

    From what I've been reading, most Democrat voters are pi$$ed about all their candidates wanting to give all the free stuff to illegal immigrants using our tax dollars. That right there will ensure a Trump 2020 victory
     

    Leadeye

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    Keep in mind that this probably isn't her idea, well connected real estate brokers and property investors in these areas will make a fortune buying ahead and selling to these folks who receive their government payments. Mortgage brokers and consultants will be thinking 2006 has returned. Anybody already invested in these areas will see the value of their real estate rise, so it a big money maker. Find out who is financing her campaign, they are telling her what to do. I don't see her as a really deep thinker.

    Always follow the money
     

    DoggyDaddy

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    A new law can change an old law. That's really not an issue at all.

    But the proposal seems to be that the availability of these grants will be based on the location of the house (previously redlined areas) rather than the race of the buyer.

    Which, to me, seems like the proposal is designed to maintain or even strengthen the idea that there are "black neighborhoods" and "white neighborhoods." That in itself could make grants like this less effective at helping black families build wealth: the value of a house is greatly reduced if the pool of potential buyers is reduced to only a minority group of people.

    So we could go back to "separate but equal" segregated schools and that's not an issue? Kamala herself seemed to have a problem with segregation when it came to Joe Biden. We can go back to discriminating based on race, national origin, religion, sexual preference, etc. when it comes to lending money? I mean, laws can be changed and all. :dunno: And the democrats call themselves progressives? Sounds like they want to go back to pre-civil rights laws.
     

    Leadeye

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    Busing is another example of how to make money from law changes. Number one on most folks choice of living location is schools, if there's a perceived change in the quality of the school system this has an affect on property values. Getting in ahead of the law or paying to get it changed can make fortunes in real estate for the well connected.
     

    CampingJosh

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    So we could go back to "separate but equal" segregated schools and that's not an issue? Kamala herself seemed to have a problem with segregation when it came to Joe Biden. We can go back to discriminating based on race, national origin, religion, sexual preference, etc. when it comes to lending money? I mean, laws can be changed and all. :dunno: And the democrats call themselves progressives? Sounds like they want to go back to pre-civil rights laws.

    In theory, yes, that could become the law of the land again. (It would require a constitutional amendment, but that's easier to accomplish than a lot of things that candidates promise.) But I think you missed my next sentence: the availability of the grants is based on a map rather than on race.

    I think the best possible result of this would be to exacerbate the gentrification of poor neighborhoods.
     

    DoggyDaddy

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    In theory, yes, that could become the law of the land again. (It would require a constitutional amendment, but that's easier to accomplish than a lot of things that candidates promise.) But I think you missed my next sentence: the availability of the grants is based on a map rather than on race.

    I think the best possible result of this would be to exacerbate the gentrification of poor neighborhoods.

    I just think any law that is to benefit "X" to the exclusion of "Y" is a bad law, generally speaking. We already have programs to help low-income families get housing - HUD and Section 8. When it comes to lending money, the only consideration should be "does this person make a sufficient income to be able to pay back this loan?"
     

    CampingJosh

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    When it comes to lending money, the only consideration should be "does this person make a sufficient income to be able to pay back this loan?"

    She's talking about making grants not loans.

    Her plan is that the Federal government would make the downpayment for first-time homebuyers on houses in neighborhoods that were previously redlined.

    If you don't have to make the downpayment, and then you only have to borrow 80 - 90% of the value of the house (because the rest was paid by Uncle Sam), the chance of defaulting on the loan is greatly reduced. Beyond that, the chances of being upside down in the loan are much smaller, too, so another financial crisis caused by these loans is unlikely.

    Her goal is to move more poor people to the side where they are likely to be able to repay the loan and actually purchase their own homes. I don't think this is a good way to accomplish that goal, but it isn't because I worry about these grants leading to more loan defaults.
     
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    spec4

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    So...she gets 100% of the black vote. That doesn't win elections. That insures a Trump victory.

    But there's more, she will get the vote of every braindead lefty who is ecstatic over having "our first woman president", she naturally get all the Trump haters. I don't like it but I can see the possibility.
     

    Alpo

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    But there's more, she will get the vote of every braindead lefty who is ecstatic over having "our first woman president", she naturally get all the Trump haters. I don't like it but I can see the possibility.

    Believe it or not, they aren't a large segment of the party. They are noisy and visible. But there are plenty of middle of the road democrats that hate them as much as they can't stand conservative/reactionary republicans.
     

    Alpo

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    But there's more, she will get the vote of every braindead lefty who is ecstatic over having "our first woman president", she naturally get all the Trump haters. I don't like it but I can see the possibility.

    Believe it or not, they aren't a large segment of the party. They are noisy and visible. But there are plenty of middle of the road democrats that hate them as much as they can't stand conservative/reactionary republicans.

    Add up all the radical racial groups, the sexual deviant groups, the antifa's. What do you have? A voting block that is pissing off the majority of the party. Backlash. Lots of backlash on the way.
     

    churchmouse

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    She's talking about making grants not loans.

    Her plan is that the Federal government would make the downpayment for first-time homebuyers on houses in neighborhoods that were previously redlined.

    If you don't have to make the downpayment, and then you only have to borrow 80 - 90% of the value of the house (because the rest was paid by Uncle Sam), the chance of defaulting on the loan is greatly reduced. Beyond that, the chances of being upside down in the loan are much smaller, too, so another financial crisis caused by these loans is unlikely.

    Her goal is to move more poor people to the side where they are likely to be able to repay the loan and actually purchase their own homes. I don't think this is a good way to accomplish that goal, but it isn't because I worry about these grants leading to more loan defaults.

    I get that but hell to the no. Have you lived around any section 8 property's. That program started out with the same intentions. And it has not come off to the good.

    So I will repeat......Oh hell to the no. It is not up to us as tax payers to get involved at this level. No. NADA.
     

    Brad69

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    So if Uncle Sam is giving out down payments I want one for some river property to make a camp?

    Man if we only find a center right populist President that could help everyone by getting the economy going, fighting foreign countries trade issues and treaties, try new ways to find peace with old enemies, limit our wars to what is necessary, attempt to stop illegal immigration and improve our border security, lower the unemployment rate for all minority groups and women so the pay and wealth gaps can close, cut the corporate tax rate and keep companies in the US instead of moving overseas.

    One day maybe we can find somebody like that and Kut and Alpo can vote for them?
     
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