My first home was a small little place in a tough neighborhood that I fought to keep through some tough times. When the market finally turned after many years I sold and bought another and so on.

What the government offers in this proposal is not real homeownership. There are draconian terms and conditions. You cannot sell the home for many years, you are locked into a government contract. You cannot profit like you would with a real home.

On the other hand you would get to live in an area you never could afford. Create wealth opportunities where one can buy and own a home free and clear. How about the G giving a silent second to help you get you first home?

This is how the Dems screw working people thru their desire to own your very soul and control you whole life. They make the descions, they tell you when you can move, how much of a car you can buy, when you are to die because they cannot afford to pay for your healthcare.

They are the ones who built those horrible hellhole inner city projects and shove African Americans into them. Teach a man to fish or teach a man nothing. To them it felt good to do good when in reality it was pure evil.

P.S. the Stamp Act angered Americans because they didn’t have political representation. You do, and I’m sorry you disagree with who the people voted for.

But. Hey the high speed rail between Modesto and Bakersfield is also well on its way to bankrupting the state!

Gov Moonbeam can’t understand why people and business are fleeing!

Secondly, it’s either a cesspool, or a one-time-shot. Affordable apartments, ultimately, are owned by someone. This guy obviously wants single family houses built (with taxpayer money and sold below-market or something) because the rentals tend to get to be a pretty nasty neighborhood. As if moving the nasty elements out of a crappy low-income apartment and into a crappy redevelopment-built single family home with a free downpayment is somehow going to improve the neighborhood or add pride of ownership. We saw the effect of zero-down mortgages and how junked-up the houses were when the people left them behind, again, to be the taxpayers’ problem.

How is giving a $200,000 house to someone with a $9.00 / hour job going to help anything? Why don’t we save ourselves $!90,000 and give them $10,000 toward a 2-year technical degree, and maybe they can learn to provide for themselves?

CalHOP is a stupid failure of a program because it relies on California to borrow the money on the bond market, then loan it to the home buyer. But California is broke, and has a junk-bond credit rating, so instead of 4%, the rates are about 6.5%… so no wonder no one likes it. He’s talking about issuing small downpayment assistance loans on federal FHA mortgages, which again, have FHA insurance added-on, so the 3.7% rate or whatever is really a 5.5% interest rate payment. The person might as well just get a higher-interest (and properly-risk-adjusted) mortgage loan.

Here’s an idea… rollback some of that 10% California income tax rate… and maybe, just maybe, the people can save their own downpayment.