I noted with interest the thread on the cash for clunkers bill. I think it's bone-headed, but I've got a better stimulus program for you. The city I work for has a plan for neighborhood revitalization that will GIVE people $75,000 (one example) in free money.
Oh, wait-that's our money! We pay taxes, and the governement is going to give it to people to buy a house.
Check out http://www.wdconline.org/filestorage/100/129/nsp_brochure_1%.pdf.
It's a program to revitalize neighborhoods in this particular city. I know other cities have similar programs. They will give you money to help buy foreclosed houses. Grrrr!!!! Now, I understand the rationale of wanting people to buy these houses so they don't stand vacant, but---it seems to me these houses should be targeted towards people who really need help buying a house. Want to know what the one person income limit is to be eligible for this program? $64, 000. A 4 person family can make $92,000 and still be eligible for this program. I know in some parts of the country that it would be difficult to buy a home with these incomes, but not here. You can buy a multi and rent it out, thereby covering your mortgage. The rehab assistance and financing grants do not have to be paid back. Wouldn't it make more sense to lend this money at 0% and make owners pay it back, so that they have some stake in their properties? I also get the feeling that many wealthy citizens will "help" their friends and relatives navigate the system in exchange for some of the profits.
Yeah, I sound bitter. I am bitter. I spent the last few weks at work listening to several co-workers crow about how they are going to be rich. (This program was advertised to city workers with a letter included in our paychecks.) Where do people think all this "free" money is going to come from? It seems the government can't give it away fast enough. Yeah, yeah, i know....it's to help jumpstart the economy, but I'm more in favor of public works type things (which i know is also supposed to be part of the stimulus program, but it's just not as visible to me). Creating jobs and helping to improve our infrastructure sound more reasonable to me than cash for clunkers and housing grants.
Oh, wait-that's our money! We pay taxes, and the governement is going to give it to people to buy a house.
Check out http://www.wdconline.org/filestorage/100/129/nsp_brochure_1%.pdf.
It's a program to revitalize neighborhoods in this particular city. I know other cities have similar programs. They will give you money to help buy foreclosed houses. Grrrr!!!! Now, I understand the rationale of wanting people to buy these houses so they don't stand vacant, but---it seems to me these houses should be targeted towards people who really need help buying a house. Want to know what the one person income limit is to be eligible for this program? $64, 000. A 4 person family can make $92,000 and still be eligible for this program. I know in some parts of the country that it would be difficult to buy a home with these incomes, but not here. You can buy a multi and rent it out, thereby covering your mortgage. The rehab assistance and financing grants do not have to be paid back. Wouldn't it make more sense to lend this money at 0% and make owners pay it back, so that they have some stake in their properties? I also get the feeling that many wealthy citizens will "help" their friends and relatives navigate the system in exchange for some of the profits.
Yeah, I sound bitter. I am bitter. I spent the last few weks at work listening to several co-workers crow about how they are going to be rich. (This program was advertised to city workers with a letter included in our paychecks.) Where do people think all this "free" money is going to come from? It seems the government can't give it away fast enough. Yeah, yeah, i know....it's to help jumpstart the economy, but I'm more in favor of public works type things (which i know is also supposed to be part of the stimulus program, but it's just not as visible to me). Creating jobs and helping to improve our infrastructure sound more reasonable to me than cash for clunkers and housing grants.
