First time home buyers in Calif, can have govt owe up to 45%

[D2Cat]

The California senate wants to help first time home owners with up to 45% of the ownership of that home.

If you're a Californian, the state wants to cover almost half the cost of your new home

California Senate Democrats' new budget proposes a program, called California Dream for All, to make homeownership more accessible for residents.

www.yahoo.com

 

[BFE]

Gotta do something to get someone to move to that Godforsaken state. Illinois isn't much better.

 

[BFE]

Article stated that those with wealth get wealthier, those without fall farther behind. I don't buy it. My brothers and I are all better off than our folks at the same age, we didn't have to pay 1980's interest on anything. Dad was near broke for the whole time we were living at home. We're not the only ones I know of who are, most of my friends can say the same.

 

[Lucky]

That's just messed up. Wonder if I have to live in the house and how many can I buy

 

[Buck Randall]

That's just messed up. Wonder if I have to live in the house and how many can I buy

It said that eligibility would be dependent on income and value of the home, so I assume they would only offer it for a primary residence.

I think it could actually be a decent revenue source for the state, as long as they don't overvalue the properties at purchase. It ought to at least break even.