When Joe entered politics this would have been 10-20% of the cost of a house
Now it isn’t even 10% of a down payment
this post was submitted on 07 Mar 2024
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There are land transfer taxes and legal fees associated with home purchases. Tbh idk if this tax credit would cover those!
The median home sales price in the United States is $417,700 as of the fourth quarter of 2023.
here's 1%, you're welcome
1% off! These houses are flying off the shelves! Come get your 1% discount!
God I fucking love tax credits. It's like the dems really know me, you know? I wonder if the tax credits are only for first time home buyers in a disadvantaged community, that are part of a specific minority group?
Holy fuck i just read the article it's just succ extreme.
Biden will also call for an expansion of the low-income housing tax credit to build or preserve 1.2 million more affordable rental units. He is also proposing a new neighborhood homes tax credit, the first tax provision to build or renovate affordable homes. And Biden will unveil a new $20 billion competitive grant fund as part of his budget, expected next week, which would support the construction of affordable multifamily rental units and remove barriers to housing development.
This is the meat of it. All of this money will be going to suburban sprawl and the companies that build the cheapest homes they can, many of them unlivable after less then a decade.
The buyer's insentives just bump up the price anyway. It's more of a realtor bailout than anything.
So you can only get this by already being able to come up with the money to buy the house in the first place, right? How does that help anyone? Is there any segment of the population out there who is thinking about buying a house, but their only obstacle is that they won't get $5,000 back on their taxes 10-12 months after making the purchase?
They just hate poor people
Wow it's literally nothing!!!!!1
Nevermind the pittance 5k does to help a first-time buyer, the fact it's a credit means this does nothing to assist people that weren't already in a position to buy in the first place.
"buy a house now and we'll throw in a free sofa!" 
Pissing into an ocean of piss.
Fuckin love being tossed the idea of a pittance and knowing that I won't even get that
They're seriosuly taking the piss at this point.
God damn, this country fucking sucks.
Biden to propose new Band-Aid for leg amputations
Seriously WHAT THE FUCK.
They fucking ended immensely popular free money programs and then had their fucking elitist twat hemorrhoid talking heads gaslight everyone into believing that the REAL poor people are the Azov Battalion.
Is there even a SINGLE FUCKING DEMOCRAT IN CONGRESS who wants to not butcher SNAP, or god forbid maybe end the stupid Bush era prohibition of buying hot food with food stamps?
Seriously
I fucking hate Trump but at least that mother fucker gave us money
I didn't like Obama but at least obamacare was something even if it was more of a handout to the insurance industry
Genocide Joe comes to us completely empty handed. Not only that, his empty hand is outstretched begging us for a handout
Words cannot describe my feeling of spite and rage
Someone I love very dearly got off the streets because of the COVID unemployment thing.
Bro, bro, hear me out! The problem is houses are too expensive because NIMBYs block new construction and investors are hoarding real estate. So all we have to do is make it easier to pay for the high cost of housing. We need to let everyone get in on the bidding war, not just the wealthy and corporations!
I bought my home in 2010 using the first time homebuyer tax credit they setup after the 2008 financial crash, so I have some experience and perspective on this issue.
The tax credit I received was 8k, and my home cost 125k at the time of purchase. That home is now valued at over 3 times its original value.
They're essentially offering most first time home buyers a 1% tax credit. What a fucking joke.
$5000 a month tax credit is really good!
state or county level first time buyer gives you WAY more. this is a drop in the bucket.
Hey Gen Z, come get your free land.
It's like the predatory help to buy schemes that the Tories introduced in the UK. I was looking into those years ago, and they look rather helpful, until you realise that the money they offer you to help buy comes from private firms, who then accrue equity in your home after 10 years of your 25 year+ mortgage. Ultimately they can end up owning more of your home than you do.
Fuck capitalists. Fuck them to hell.
Lmao
WHY slams head on picnic table ARE slam THEY slam LIKE THIS slam slam slam
A proposal to introduce legislation to offer a 1% off tax credit for first-time home purchasers. Did this come out of the Oddly Specific Kamala Harris Policy Generator?
This sounds like that time that Joe officially pardoned nobody for weed crimes.
And tankies will insist Bidenomics doesn't work.
counts out change from a countertop jar
Ah yes surely this will afford me a home or two
Save $3 a month on your 30 year mortgage!
More welfare for the middle class
Maybe 5% of a down payment lol