That’s good right?
Why would you want a bill specifically helping undocumented immigrants buy houses?
If I’m wrong I’d like to know why.
Certain people will be all in these comments saying it’s discriminatory or unfair this almost happened and now didn’t…it’s not.
If you’re undocumented and even here so long and this is your life…etc. That’s one thing.
Expecting to be rewarded for that when others are not is not going to fly with the right or left. It’s an insane proposition to begin with that focuses on a certain subject of the population, and then step further because they are not officially the population. Kind of a snub to others.
Same. That kinda seems like it would lead to fewer people bothering to want to be a documented immigrant, right? Which, phrased a little differently, kinda incentivizes people to come in illegally or at least remain undocumented once here since that wouldn’t be a barrier to them owning a home? The right would’ve had a fucking field day if he’d signed that. They froth over straws in milkshakes; he doesn’t need to draw valid criticisms via bad policy two months before this election.
Reading up on AB 1840, it looks like (from what I can grok) this would help undocumented immigrants to get more affordable loans. But they would still be loans, not grants (right?) So I don’t quite understand Newsom’s budget argument. It’s a loan. Most of the money will be coming back over 30 years.
That said, CA’s housing supply is trash, and if this was a ballot initiative, I think you’d have a real hard time passing it. People are rightly or wrongly going to assume that this will increase competition in the buying market. When a house sells in CA’s major metros, it’s on the market for 2 weeks and the seller is sifting through dozens of offers.
Right, it is a loan, which means the principle is spent to buy a house for someone and they pay you back over 30 years. That is a huge capital investment with a long repayment period.
California also has low supply of housing for citizens, so why specifically help undocumented immigrants get housing when their claim is far less solid than a resident with proper standing?
The argument for it is probably similar to the argument for allowing dreamers to attend university and get white collar jobs. Some people were brought to the states when they were young, and America is all they know.
Do you send someone to a place like Mexico even though they might not really speak fluent Spanish and or know the country well?
It probably could’ve gotten more support if it was specifically for dreamers, for the reasons you point out.
Yeah, it wasn’t written in a way that would help with public perception or limit opportunities for political spin. Also, it was put on the governor’s desk during a general election year when immigration is a top issue.
Even if the bill wouldn’t impact the housing market or state budget, it wasn’t crafted well.
But if this scenario were the case, then they likely would have visa sponsorship to work a white collar job. That would thus make them documented. Many banks have lending guidelines for this scenario, which again makes this law even more useless
Makes me wonder if being a dreamer makes you a riskier loan applicant. Those folks don’t have permanent residency, they’re here under deferred action. If they have to leave, they’d be at increased risk of foreclosure.
Tysm for the source, I do understand the budget argument as currently there are almost no itin loans being underwritten by banks. If the banks don’t think they can make money on it, greatly expanding the market (while noble) sounds like opening the floodgates of losses. It also could create a gold rush/competition if California is successful but that literally may take 15+ years to find out.
Ok but can we ban foreign nationals from buying up land? Forget the small fish, let’s look at the big fish; I’m talking:
- Russia
- China
- Saudi Arabia
- Japan
Reminder: Almost anyone can buy property in the U.S., regardless of their nationality or immigration status. There are some states that are implementing laws prohibiting some of this. To my knowledge, California is not one of them.
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This is the kind of bullshit you get by voting blue no matter who.
Ah, right because the alternative R governor totally wouldn’t be worse for undocumented immigrants amirite?
Shit logic.
No, because it’s the same animal.
CA has had a long history of voting for republicans, but the republicans running in CA are not for a lot of weird trumpian / culture war issues that past republicans never ran on in the state.
