Put Yo Hands Out!

[Gregmal]

It's starting!

https://www.yahoo.com/news/harriss-100-billion-plan-aims-194433358.html

Koomala trying to buy the black vote and promising to divvy out the free stuff

[LC]

Yeah I'm actually with you on this one.

There's a lot of racial issues in this country but to say a certain group is discriminated against due to their race in accessing finance (particularly mortgage finance) is flat out wrong. Banks do the equivalent of jumping through a labyrinth of hoops, just to access another labyrinth of hoops, all while holding a group of regulators hands, just to prove that this does not happen. This happens with every automated or manual consumer credit finance decision at the large banks.

[Parsad]

Yeah I'm actually with you on this one.

There's a lot of racial issues in this country but to say a certain group is discriminated against due to their race in accessing finance (particularly mortgage finance) is flat out wrong. Banks do the equivalent of jumping through a labyrinth of hoops, just to access another labyrinth of hoops, all while holding a group of regulators hands, just to prove that this does not happen. This happens with every automated or manual consumer credit finance decision at the large banks.

The Canadian government did something similar recently for first-time home buyers...wasn't based on race.  It was also a loan that had to be repaid, not a grant. 

I would be open to the U.S. government doing something similar, but not a straight grant, and certainly not one based solely on race.  I think the capital should be focused on first-time buyers in red-lined areas, but nothing to do with race, so that anyone in those areas can eventually own a home if they can repay the debt and loan. 

Cheers!

[no_free_lunch]

How do u determine who is black.   Like serious now.

What about aboriginals?   I mean if we r going to get into it they were there first they probably deserve something.

We are just going to ignore Latinos?  Asian people seem to do pretty good so I won't even ask.

What about a white kid who grows up in a black neighborhood.  Would they qualify?
 

[Gregmal]

This is a historic event in which LC and I seem to agree!

On the serious side, yea we should help first time homebuyers. We should have loans, not grants, and it should not be based on race. Is that not the definition of discrimination? Many inner city folks of lower income are significantly better off than the rural ones out in PA and WV, etc.

I mean look at Koomala! Black, in the more politically correct context, is African American. Koomala is half Indian, half Jamaican. Neither of those are African. So what gives her the claim that she is black outside of the fact that she wants to be because it is politically advantageous?
So as no free lunch said, how do you makes these determinations? Do you show up at a government sponsored physician who then grades your pigment? Birth certificates(LOL)? You could show me someone dark as night or white as the stain of Lewinsky's dress and if they've been in the country for 3-4 generations I would consider them equally American and nothing else.

This is the same shit Obama did, strictly to buy votes. I remember see videos of black women screaming in the parking lots of those Florida rallies in 08, about how "OBAMA GONNA PAY MY GAS!!! OBAMA GONNA BUY ME INSURANCE!!!. I mean even if she wins, and tries doing this stuff, she is going to get shut down by the Senate. So I think ethically, this is highly dishonest because she is deliberately misleading people and deliberately trying to bribe them.

[Spekulatius]

^ I agree with above. Also, from a campaign perspective , it doesn’t make much sense for her to promise this, because she has the African American votes in the bag anyways, imo. What she needs to do strategically is broaden her base and appeal to more center voters.

[no_free_lunch]

Even if we drop the race issue. These loans and programs for home buyers seem to have the opposite effect and just push up housing prices.  It also concerns me that there is this slow encroachment by govt.   In Canada with the new program Parsad referenced you have a govt entity taking ownership stakes in housing, and holding that stake until the homebuyer sells.  They also have to monitor the home sales to prevent fraud so gonna need some more employees for that.

I just don't think the governments role is to solve every problem when they can only do so by growing.

[Castanza]

Didn't she already try this with rent prices in California? All that happened was the landlords jacked up their rates because they knew the tenants were getting guaranteed money.

Also doesn't make sense to force the giving out of sub prime housing loans. Have we learned nothing from the past? This is a just a new angle at the same outcome.

Maybe she could recruit ol Jimmy McMillan from "The Rent is Too Damn High" party to be her vice?