California Democrats carved out the Dream for All money to help first-time buyers. The funds ran out after just 11 days with the average loan hitting $112,000.
, sucked dry by eager house hunters. It turns out the dream was only for a lucky couple thousand borrowers — a disproportionate number of them white, non-Latino and living in the Sacramento area.was paused on April 6, less than two weeks after the California Housing Finance Agency said it would make the program available to lenders. About $288 million in initial funding will be provided to 2,564 homebuyers, according to an internal document obtained by CalMatters.
But those figures also show that the program was disproportionately used by white homebuyers. Senate President pro Tempore Toni G. Atkins, of San Diego, said in a statement Monday that the program was intended to reach those historically shut out of the housing market. That raises an important question: How many of the people who benefited from the loan program actually needed the help and how many would have purchased a home anyway?
“We’d like to do something we’re not allowed to do in California, and this is not the fault of CalHFA or anybody else,” said Micah Weinberg, chief executive of California Forward, a nonprofit hired by the state treasurer to create an initial framework for the program.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
The best binoculars under $300These binoculars are all on sale for under $300, including models from Leupold and Vortex
Lire la suite »
Microsoft's super-powerful Surface Pro 9 tablet is on sale at $300 off in multiple variantsSold by Best Buy at a $300 discount in one configuration just a couple of weeks ago, Microsoft's versatile Surface Pro 9 powerhouse is now marked down by $300 in four different variants at the same retailer.
Lire la suite »
California first-time home buying assistance program runs out of money within two weeksA statewide program to help Californians looking to buy their first home has seen extreme demand. While many San Diegans applied, only the lucky few were able to reap the benefits as it’s already out of money.
Lire la suite »
Biden's digital strategy: an army of social media influencersBiden's not-yet-official bid for re-election will lean on hundreds of social media 'influencers' who will tout Biden's record — and soon may have their own briefing room at the White House.
Lire la suite »
Tennessee Democrats expelled over gun control protest seek return to office: ‘We will continue to fight’Nashville’s metro council is likely to reappoint Justin Jones to the seat during a specially called Monday meeting. The Shelby County Commission plans to announce soon when it will meet to fi…
Lire la suite »
HHS Sec.: ‘Everything is on the table’ on defense of abortion medicationHealth and Human Services Secretary Xavier Becerra said the Biden administration is leaving its options open in its defense of a federal judge’s ruling last week to ban abortion medication mifepristone.
Lire la suite »