Guest Post by Martin Armstrong
Liberal California lawmakers are proposing new legislation that would grant illegal migrants zero-down, zero payment home loans. Assemblyman Joaquin Arambula, D-Fresno, who penned the bill, states, “The social and economic benefits of homeownership should be available to everyone.” This completely insolent maneuver is a slap in the face to all taxpaying citizens who can barely afford homes of their own.
The program would expand the California Dream for All Shared Appreciation Loans that began in 2023 with a $300 million budget intended to house 2,300 applicants. This fund failed in 11 days as the people who pass these laws have absolutely no concept of basic finance. This time around, they’re ensuring that only people who do not work full-time will be qualified as the new qualifications are that someone must earn under 120% of the median county income, and be the first GENERATION in their family to own a home on US soil.
The changes to the failed legislation is as follows:
LEGISLATIVE COUNSEL’S DIGEST
AB 1840, as amended, Arambula. California Dream for All Program: first-time homebuyers. eligibility.
Existing law establishes the California Housing Finance Agency in the Department of Housing and Community Development, and authorizes the agency to, among other things, make loans to finance affordable housing, including residential structures, housing developments, multifamily rental housing, special needs housing, and other forms of housing, as specified. Existing law establishes the California Dream for All Program to provide shared appreciation loans to qualified first-time homebuyers, as specified. Existing law establishes the California Dream for All Fund, which is continuously appropriated for expenditure pursuant to the program and defraying the administrative costs for the agency. Existing law defines “first-time homebuyer” for these purposes. Existing law authorizes moneys deposited into the fund to include, among other moneys, appropriations from the Legislature from the General Fund or other state fund.
This bill would specify that the definition of “first-time homebuyer” includes, but is not limited to, undocumented persons. an applicant under the program shall not be disqualified solely based on the applicant’s immigration status. By expanding the persons eligible to receive moneys from a continuously appropriated fund, this bill would make an appropriation. The bill would recast the fund so that appropriations from the Legislature from the General Fund or other state fund are deposited into the California Dream for All Subaccount, which the bill would create and make available upon appropriation by the Legislature for specified purposes.
In fact, this is not a “loan,” but another taxpayer-subsidized program, as qualified applicants will receive the funds to put 20% down on a home without making a payment on the loan or to the CHFA. The funds will only need to be repaid if the borrower sells or refinances the home, but the property may be held for an indefinite amount of time.
California has the largest homeless population in the nation who are discarded members of society, even the veterans who served our nation. The average price of a home in California is about $750,709 based on Zillow’s estimates, marking a 4.4% YoY increase, which makes a typical 20% downpayment around $150,141.80. Due to high prices, California boasts the second largest renter-occupied market in the nation behind New York, with 49.7% of the population opting to rent largely out of necessity.
This should receive bipartisan backlash and open the eyes of even the most liberal citizens. The government is using the resources it collects from you via taxation to push a political agenda through the use of illegal unvetted migrants who are toppling state budgets and destroying America from within.
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As a carpenter am building the illegals a new neighborhood for them,plenty more units will soon be available.
https://i.postimg.cc/fyYwmkWn/istockphoto-139446504-2048×2048.webp
California: In my mind, it’s already gone like a loved one in late stage dementia. We remember what they once were and mourn what they have become as the grave yawns before them and we all wait for the inevitable.
“Let no man look up in hope. Let no joyful noise be heard, and let this day be cursed…by we who raise THE KRAKEN!” – Davy Jones
Yeah. It’s gonna be one of those deals.
El Salvador is now a better place to live than California. What are they going to do when everyone who can afford to leave is gone? Let the Chinese have it? The Chinese would turn those people into slaves.
I think the plan of the Great Reset is going to involve a mass collective trauma which unhinges historical memory, and allows them to write in a completely new history.
The flood of immis will turn on and slaughter most whites and blacks.
They will then consume like locusts, everything of value, and them turn on and consume each other. That is what they were bred and indoctrinated for. To kill us, and then each other.
400 years ahead?
Little will remain of western civ.
Admin – the headline should have Illegal Aliens, not “migrants”. Call them what they are, please.
Yeah, even Biden called them illegals in his speech last night. Pelosi is pissed off about that. But that will happen when you put a cognitively impaired person out there, they will forget the short term memory PC talking points and will spout the long term memory of what they have always believed.
Biden said, “Lincoln Riley an innocent young woman who was killed by an illegal. That’s right.”
Pelosi said, “Well, we usually say undocumented, he said illegal. I don’t think it’s a big deal. Okay. I don’t think it’s a big deal,…
Yeah, it’s no big deal unless a conservative says it, then the person has to be crucified.
The people of CA are morons.
And those are the smart ones who LEFT! Now imagine what the ones who elected to STAY must be like!
Califirnia, you have to love a state that likes to give away money it does not have to people who pay no taxes. Reminds me of the Federal Government.
So you see it too!
More of that great replacement that’s all the rage now.
This isn’t insanity. This isn’t sheer stupidity. This is a deliberate plan to destroy the American working/ middle class.