Daily Caller:
California lawmakers are one step closer to making hundreds of millions of taxpayer-funded home loans available to residents living in the country illegally.
Democrats on the California Senate Appropriations Committee unanimously approved AB 1840 to move forward on Thursday, according to an official vote tally of the legislation. The bill has one last chance to be struck down on the Senate floor, where Democrats wield majority power, before it lands on Gov. Gavin Newsom’s desk. more
Sure, go full Castro, everybody needs to share their houses with two illegal families.
Except the chosen elite in their gated communities.
And in breaking news Phil Donapew has assumed room temperature and kicked the bucket today at 88. Goodbye and good riddance.
Before he croaked, Phil predicted 11 more weeks of Communism…
I’d take a second look at this program if they add a provision that the homes being bought have to be in Papua New Guinea.
All the cannibals in New Guinea have got to eat too.
california is broke. where the f are they getting the money?
The whole country is broke.Where the F are they getting the $$$ ?
This should collapse the housing market in California. Well done State Democrats, Governor Brylcream.
tax payers will cover default LOANS 3…2…1…
wildman: “ california is broke. where the f are they getting the money?”
Well, California can’t print money, but President Kamala will, and bail-out California, and we will all pay the price.
NOTHING will change until WE ORGANIZE agains’t the evil demons destroying our and our children’s lives.
I think the housing shortage was brought on by companies snatching up single family homes and renting them to illegals because the feds can pay them more than private citizens can.
If you are not prepared to pay off your loan, the government will force lending companies to default your loan to some illegal. If you can’t pay it off, you will lose every damn cent you paid against your loan. I am not guessing on this, Communism is going to fuck us over big time. Kamala and Tim will be laughing because you will be homeless, broke and out of luck.
Hey, the Community Reinvestment Act worked great, just ask Freddie and Fannie :/ (or Chris Dodd and Barney Frank)
I think I’d rather move out and burn my house to the ground before being forced by Gubberment fiat to take illegals into my house.
If you live in California your vote is meaningless. It has been for at least 8 years. It’s all show. At the end of the day the socialist power structure has become so strong there’s no way to get passed it. Recalls fail in court because the court is part of it. I remember back 8-10 years ago that every election cycle would include a shit load of propositions. Not any more. Our leaders dream this shit up and ram it down our throats. The only way to protest this is to leave the state. However California is a bell weather for the rest of the country. And if Kami gets in we will all be Californians.
California’s median home price is now listed at about $900k, with an average price of about $750k. According to the article, if the state grants 20% to illegals for a down payment, this would equate to $150,000 to $200,000 per homebuyer. More importantly, this means that these buyers would carry mortgages of $600k to $700k.
Yes, one can purchase a home in the less expensive areas of California like Barstow or Baker – desert living at its … finest? One can also probably find something more affordable in San Bernardino or other areas of the inland empire which have apparently turned into crap holes.
A $500,000 mortgage at 5% will cost about $2,600 per month. But this doesn’t include insurance or real estate taxes which can add at least another $1,000 per month. Buyers will also have utilities and maintenance to contend with, so one may be looking at $5,000 per month for the privilege of owning a home in California. Put another way, one’s take home income will need to be $50k to $60k per year to afford a home.
I suppose the illegals will do what many Asians do – put 3 or 4 families in a single family home. But this has the strong potential to be a bigger cluster f**k than the 2008 meltdown.
@Bad Brad: I left California 8 years ago, and my vote was meaningless then. And I lived in Orange County, which was supposedly a conservative county.
Wyatt
Hopefully they can get a couple families together to buy my 2.5 mil home. And they’re still going up. A 0ne acre lot just down the road from me will cost you a mil. Utilities are off the charts. We average about $900.00 per month PG&E. I’ve got to get out of here but the thought of moving the shop is rather daunting. The bad thing is I like where we live. A very conservative little community. For now.
Bad Brad: Our electric bill in 2016 was about $500.00 a month. Our biggest extravagence energy wise is that we did run the pool filter about 4 hours a day, but rarely ran the air conditioning and were never home during the week.
I also liked where we lived. The problem was that SoCal was becoming unlivable, and the older I got, the less I liked crowds. The beach was about 12 miles away, but in the summer that was an hour plus drive, and parking was non-existent after mid-morning. There were homeless folk everywhere – if anyone thinks the media was exaggerating the scope of the problem, I can assure you they were not.
California is one of the most beautiful states in the United States. It takes a lot to make California unlivable, but the politicians are doing their best.