A Socialist one. We are becoming a nation of rewards for bad behavior, which encourages the lazy and unmotivated to stay that way and for us hard-working common-sense ones to say screw it. All starts with everyone getting a participation trophy.
This seems criminal to me to add an additional "tax" onto a home loan to punish people who have done all of the right things. Seriously, how is this legal?
It isn't legal. This is by force. The worst President ever to keep abusing power. Soon usa will be a third world country as planned by these fools. It's done on purpose.
It’s legal because clown Americans just sit around asking how is this legal and doing absolutely nothing about it hoping someone else will solve your problems. That’s all it takes for them to assert control while you sit around asking useless questions when they take action cause they know Americans are too docile to do anything about it
We live in a dictatorship, just look at how many times a president has signed a law or program without the vote of Congress, Senate, or the people. It's rigged and a con job and we have been played.
As an elder millennial, one of the few advantages is having lived through the Great Recession. My advice. Reduce unnecessary expenses, increase your savings by investing in financial markets and do not sell. One thing I know for sure is that diversifying your income can help insulate you from much of the craziness going on in the world.
I would say founding this nation on the backs of slavery is wrong. What the law should say is that white home owners must pay for POC to enable them to buy a home. African American home ownership is at 44% and we need to do everything we can to get this increased. Instead of future loans, we should also implement this on current loans so that POC can get an interest rate of 2% fixed. I'm okay with white people getting 7-10% interest rates
Banks just don't loan to them so they never assume the risk. Biden is making homeowners with large loans assume the risk which is wrong. We already have to pay for 2008. Cab drivers don't own homes, the business owner maybe.. First time homebuyers are quickly becoming a thing of the past as the middle class VANISHES. When you adjust for inflation cost of living people don't make enough to "work hard and struggle through it" like the gentleman said. This isn't the 1950's and 60's where 1 person working can support a mortgage, car note, student loan, family of 4. That used to only take up 60% of average monthly income. Now it's 150% fully accounting for inflation. People aren't getting married, having kids, owning a home at record numbers by choice, it's impossible now unless your household income is in the top 25% of Americans.
because majority of people don't have good credit, but they can vote, duh. whoever is pulling the strings are not stupid. They know how absurd these proposals are, but they willing to do it for short term gain absolutely.
@@FreshArtsy I'm not sure that many understand what you said here. Same thing with student debt, et. al. We have come to a point where more people are voting for free stuff than there are votes from people who pay for it...
@@billcrowley8997 ya this one is way effective cuz low credit population is lot larger, and many may even voice of their discontent with how dumb this is online. but secretly of course most ppl that would benefit from this will more likely to vote a certain way -_-
@@_outofphase5480 Thanks for that. I have been saying it for ever. They do not lie, they just don't tell the whole story. Tax cuts only help those paying taxes.
Yes so many people have 10 children. Just think they will be paying for your social security when you retire. Are you fine with the 20 billion in no income requirement farm welfare we shill out to 2 million farmers every year.
Yep. I average 828 (just reviewed it). My credit card offers start around 24.99%. It's meaningless now, and it's about to get more meaningless. I have never in 54 years missed paying any obligation, period, including of course taxes. That makes me, in Biden's eyes, an incredibly dangerous extremist or even a domestic terrorist.
@@tesladrew2608 Not everyone makes perfect choices throughout life. It took me from age 18 to age 54 to break 800 due to dumb choices I made. I actually never went below 680, but I did have some struggles.
You will notice they haven't actually forgiven any loans yet. They always promise this stuff to get votes, then renege. Or selectively enforce it after the fact.
You have no choice....it's a done deal as of May 1st. The people who work and are responsible will be paying those who don't work so they are able to buy what they want. It's called equity.....aka Socialism.
Those happen to be the only people they can steal from. The sheep that will allow themselves to be pushed around. The ones who go to work everyday and produce value for the country. Too many on the left have their hands out wanting the money from the working man. And you give your voters what they want, or you say you will. Buy their votes any way you can.
I worked with an individual that made the same wage I did but lived beyond their needs. He went bankrupt twice, the second time within a few months was driving a brand-new vehicle all the while I was making my mortgage and driving a 12 year old truck. And who pays for their lack of responsibility, we all do.
I worked with someone just like that. He lived at the country club golf course and me in the country on a dirt road. He filed bankruptcy twice and in 2 yrs had another 2 story home 2 new cars a boat motorcycle and jet skis. How the hell ?
Yep, but actually it's worse! After the debacle and market crash new laws were enacted so WE, the taxpayers will not be responsible for the defaults of the future, so now we get bank bail-ins instead! More BS to come folks!
Don't worry....when it all collapses and it will...WE will just have to bail them out again. You can bet your life these people will be living in a better house than those with a good credit score.
I remember. Had just become a process server. Spent my days going through empty neighborhoods posting court notices. Not that it mattered, most people had already abandoned their over priced cookie cutter homes. Most of these neighborhoods I was lucky to find two families still on the block.
wtf is this? So if I want to sell my house and buy another one, I would be subsidizing someone with bad credit? the whole governments common sense has gone upside down.
It used to be the other way around. People with good credit scores were charged a lesser interest rate because you are a lesser risk and people with bad credit ratings had to pay higher interest rate.
You don’t think this man is devising this on his own. He can barely say a cohesive sentence. That’s why they shuffle him along and he takes no questions.
That's not what caused the housing bubble in 2008 and 2009. Just stop it. For the love of country turn off Fox News. Strong opinions and lies, no facts.
I recently made the decision to leave the US. I know if you haven’t been outside the country you think it’s the greatest ever. I’m here to tell you there is actually better options. What you are feeling is what the romans felt in the last days. I really hope I’m wrong because my extended family is still there.
I bought my Home during Trumps last year in office. Paid a handsome $190k. With Inflation it is now valued at $379k Today I would NOT be able to afford this home. Mortgages would be double. Thank You TRUMP! LOVE MY HOME.
This is a sneaky way of snuffing out home ownership. They know people will lose these houses and they can shck them all out for rental properties. It is ridiculous.
This is borderline criminal. Something needs to be done. I didn't work my whole life to have good credit to be screwed over to subsidize someone else with poor life choices.
You know how they say 'write your congressmen'? I was a strong advocate of that practice for many years, until I realized that the only responses I'd receive were automated and usually informing me that because I was not one of their constituents, I couldn't be helped. Politicians are USELESS!
Imagine that you have 2 kids, and you punish the one who behaves, and reward the one who doesn't. One of those kids is going to hate the other one. And you're going to end up with two delinquents.
REMEMBER 2006 , LOW INCOME INDIVIDUALS WERE ALLOWED MORTGAGES , RISKY MORTGAGES WERE " BUNDLED " BY " SOME " COMPANIES & SOLD OFF TO OTHER COMPANIES . ***** IF THEIR CREDIT RATINGS ARE ALREADY " L O W " , *** COMMON SENSE THINKING SAYS THAT THEY CAN'T MANAGE THEIR FINANCIAL AFFAIRS , ******* PENALIZING GOOD CREDIT RATINGS ISN'T USING *** COMMON SENSE THINKING !!!!!!!!
Remember when Obama was running? He declared he was going to end the wars Bushy Boy started. Did he? Oh hell, who ever lives up to their campaign promises?
We already did in 2020 but he somehow overrode and hijacked the system. If we can't figure out how to outsmart these mother efers, we will definitely get screwed come election 2024.
Yes. That'd be you and your neighbor. Have faith in your fellow man. And don't believe anyone who throws out a person's name claiming that they will help you. Our reliance on individuals seeking power is what got us into this situation. We need to rely on each other and self govern accordingly. Rebuild strong communities. Reestablish the nuclear family. No one singular person can do that for you. Anyone who claims otherwise is either delusional or lying to you.
Yes. If you work hard, make good decisions, and are responsible, you get penalized. There is a huge difference between equality and equity. This is a terrific example of equity. This is wrong!
Punishing responsible people who earned good credit scores to buy votes is pure political corruption. Smh We need term limits for all political offices and eliminate political parties.
The problem is that some young and and poor people really don’t deserve it because they are lazy pieces of shits but some are really hard works that have it very hard
I’m so sick of this mess! The world we live in has really gotten bad! It’s going to make people stop wanting to better themselves, especially when they start forcing their agenda on innocent people.
Generaly everyone who budgets there finances, stays out of debt, and saves their money, gets screwed. We can't even keep it in a savings account, or in cash, without it being devalued by inflation, resulting from reckless government spending.
@@mojopare8954 welfare doesn't take up as much spending as you think. Out of a dollar, its a few pennies only. We spend so much on war caused and created by our Republican party.
@@TA-np4mc no you are flat wrong , don't you dare blame republicans for war when we had 4 years of Trump , and no war. Then sniffy gets in , and it took a year for Ukraine to happen , right after we imported record amounts of oil from Russia to pay for their war , and then they take our taxes and send it to Ukraine... smh we pay for their defense , and Russia's offense .. This is all dem crap , republicans didn't do this , and you will not sit here and blame us for something we didn't do .
@@robholmes2129 nice try, let me give you a little history refresher. Vietnam War $533 billion - Republican Persian Gulf War $116 billion - Republican War in Afghanistan $785 billion - Republican Iraq War $846 billion - Republican We've spent roughly $75 billion in Ukraine But lets blame the government for spend 1% to help the poor and forget that they fail to collect billions of tax revenue from billionaires.
Punishing responsible people who earned good credit scores to buy votes is pure political corruption. Smh We need term limits for all political offices and eliminate political parties.
Agree. I used to say that all the time. But now I say “soc’ism is just a more socially-accepted way to say comm’ism”. The people, and politicians, who call themselves soc’ists are really actually supporting and/or pushing for comm’ism. And some, like AOC, are card-carrying members of communist groups in this country. It’s easier to get people onboard when it’s ‘socialism’ or ‘progressives’, but we need to call it out for what it actually is. Use the less appealing word.
@@БогданНовоградов-ш3т - Millions of working class people have homes now under capitalism… Who do you think the homeowners in this country are? They are mostly middle- and working-class everyday people. And those who don’t have homes, they have the freedom and opportunities to work, save, invest, create their own businesses and side hustles, marry and have two incomes to increase savings toward a home, take out a loan if they choose, make financially-responsible choices with their money, etc in order to buy a home just like everyone else.
If Americans keep voting for this kind of Government, we will get more great ideas like this. The America I was raised in is so far gone. This is insanity.
I have a feeling in my gut that Biden was placed as president not by voters. And it is with the power of the crackpots control in the White House and beyond our control. Biden is a puppet who will sign anything. If he wins the next election, my women's intuition is true. I did not vote for him. He's a snake.🇺🇸
They should not be allowed to implement these policies without prior Congressional authorization. WTH ? First time home buyers already have access to FHA loans, but they are required to pay for mortgage insurance. I'm curious if that is what's happening..they will get lower rates PLUS the mortgage insurance waived ? This is very irresponsible and may trigger another 2008-style collapse in the mortgage securities market.
It will be worse. The recovery was as false as the particle-board McMansions. The decline was arrested, but the inventory buildup was tepid and plagued by red tape. I wonder how the people who have paid their mortgages off will be targeted. Property tax hikes, sure. But this is an obvious shakedown, so maybe an obscure wealth tax since actual home ownership is a dying craft.
Or less people will buy homes, opening up more homes for investment groups. Since 2008 more of these groups have decided that if they foreclosed, they could rent the homes out and make money. Now it is a whole new income stream they are pursuing.
@@theresagomez2605 You also have a situation where, just like in 2008, the buyers can't really afford to be a homeowner. It's not just the mortgage payment, you have property taxes, higher utility payments than if you are renting an apartment, as well as ongoing maintenance costs.
Yep. My wife’s taxes jumped 10% because she made over $47k. 12% to 22% for just a few hundred over $47k. That disincentivizes working hard and promoting, finding a better paying job, etc…
Unfortunately I can. I think they'd try to force homeowners to let people live in their home rent free if they could. You could argue the kind of already did with the COVID eviction moratorium. And I think something along those line has been attempted or may still be in place in CA. This administration and so much of what they're doing needs firm and tangible resistance.
They are deliberately burning down the country to rule over the ashes, with us "peasants" enslaved and at their complete mercy for a bowl of rice a day, that's the end goal here..
I certainly hope that the people who suffer from this the most are those who voted democrat. If this doesn't wake them up, then let them lose everything.
I lived and worked through the 1980's home loan debacle and the formation of the RTC slushfund and the Lehman Bros. bankruptcy all from toxic home loans and toxic derivatives formed from toxic loans. This is leading in the same direction.
It will be turned into a social credit score, so the governments can control spending, issue expiration dates and monitor our every move. It's happening in China now.
@@cheesesniper473 They still don't believe we're in a recession, which obviously we are. We are also headed towards CBDC and a social credit system. It's ludicrous what's happening.
Yep, both my AMEX and Visa were closed by USAA and I had 6.9% and 9% and paid my balances monthly, but I wasn't making them any money so they closed me out. Screw them and their lousy insurance!
I can't imagine the courts would let that go,he is going way out of bounds. He talks about MAGA being the problem what in the world do you think he is but a big problem. The Congress better step up and shut this guy. Down now Start with this budget he wants to go down this road than no taxes dollars go to him for anything. And yes can be done😊
Congress can shut him down but they don’t! Why is that? Joe has got the goods on them and to defy him in anyway will result in them being exposed! Congress cannot be that stupid as to allow him to do what he does!
Nothing like extending Home Loans to folks that can not afford a House Payment and being apart of the next home mortgage crisis! I can only guess that we've not learned anything from the past!
My property values tripled the past year. Nothing has changed in my property. It's all about taxing for the neighborhood being built down the street. I'm beyond livid.
The point of credit is so that you act sensibly monetarily. To make the ones with good be leveraged unwillingly so the bad can live like the good is INSANE!!!! THAT DOES NOT FIX A PROBLEM, IT BREAKS ANOTHER THING THAT IS WORKING FINE.
At this point we need a revolution. He could have paid for that by not stealing tax payer taxes why is he charging responsible people? Rich people are so out of touch that they don’t realize that some poor people have great credit scores. I was raised under the poverty line my whole life and my mom always had a credit score above 820. All you have to do is have three credit cards and use them to pay your bills and then pay them off in full.
Foreign nationals did I miss something the free ride is for us banking organizations don’t let your xenophobia blind you to what the powerful institutions in this country do to rig the game
Those same people will still not be able to pay their bills, because that is their history, hence the low credit rating. Buying is a privilege that is earned, it is not a right.
@@JohnSmith-ux3tt I hear what your saying but To be fair: Trump said “we” should “terminate the constitution” so he could stay in power despite the 2020 election
I live in Connecticut and I am forced to pay a $12.00 fee on my homeowners insurance to help those people that have crumbling basements due to faulty concrete. I live in a 214 year old home. No one is helping me with my crumbling basement, rotting windows, etc. How is this even legal??? What's the difference between this and what Biden is going to do. These democrats have got to go!!!
They tried that previously and it lead to the subprime crisis. They didn't think it was fair that only people that could afford a home be the only ones that could buy a home. The result was lowering standards and increasing default risk.
Ugh, it is mostly due to illegal immigration and anchor babies. Imagine if California deported 25 million of those. Houses would be 80K instead of 1.36 million and rents 300 bucks. Empty places and empty freeways.
@@Elvengem One of the biggest cost for a developer is bringing in the utilities, there is a city two away from where we live, they have vacant lots everywhere, all the utilities are in, they could easily build lost cost rentals, 2 to 3 bedrooms for 1k a month and they would have lines go down 4 blocks to move in. Nope, no one wants to take it on, there is so state money but more trouble than it is worth. The government is the biggest hurdle for getting anything done.
Why the heck are we paying for those who have worse credit?! My husband and I worked hard for many years to keep a great credit score and low interest rate in our home. Why should anyone but us benefit from that?!
I agree with not subsidizing stuff, but that old man talking about how he was paying 18 percent for his home. STFU. Compared to the average income in the 1980s, homes were not as expensive back then as they are now.
I believe the guy said he bought his house in 1970, which means he only was paying a five-year mortgage loan because Richard Nixon working for big banks made us pay 30-year mortgages after 1971, I believe I could be wrong.
People with bad credit get a discount ? In what world does that make sense ?
Bidens World😂
A Socialist one. We are becoming a nation of rewards for bad behavior, which encourages the lazy and unmotivated to stay that way and for us hard-working common-sense ones to say screw it. All starts with everyone getting a participation trophy.
Obiden backward mentality like china
U get what u voted for lol😂😂😂
@@notsigningupforshit The trouble is that people that earned their way will have a difficult time to 'just screw it'
This seems criminal to me to add an additional "tax" onto a home loan to punish people who have done all of the right things. Seriously, how is this legal?
It's not a tax. Biden said he would not introduce any new taxes when he ran for President.
It isn't legal. This is by force. The worst President ever to keep abusing power. Soon usa will be a third world country as planned by these fools. It's done on purpose.
It’s legal because clown Americans just sit around asking how is this legal and doing absolutely nothing about it hoping someone else will solve your problems. That’s all it takes for them to assert control while you sit around asking useless questions when they take action cause they know Americans are too docile to do anything about it
All wealth redistribution is what the USA is doing for awhile now
We live in a dictatorship, just look at how many times a president has signed a law or program without the vote of Congress, Senate, or the people. It's rigged and a con job and we have been played.
As an elder millennial, one of the few advantages is having lived through the Great Recession. My advice. Reduce unnecessary expenses, increase your savings by investing in financial markets and do not sell. One thing I know for sure is that diversifying your income can help insulate you from much of the craziness going on in the world.
Elder millennial?? Lol
Someone get that man out of the White House.
Then we get Kackling Kamala.. It's a lose lose...
It's not the man, he's a potato puppet. It's the Dem party masters.
No you need to get the ones who he's the puppet for.
@@_outofphase5480 INDEED THE PRESIDENT IS A PUPPET POST SINCE JFK
Agree!! He needs impeached ASAP!
Taking the risk off the banks and give it to hard working individuals...is wrong.
They understand hurting the middle class will hurt America just as Trump knew strengthening the middle class would strengthen America.
Banks aren't the problem, it's too much government interference that's created the mess we're in and it's the same in the UK.
I would say founding this nation on the backs of slavery is wrong. What the law should say is that white home owners must pay for POC to enable them to buy a home. African American home ownership is at 44% and we need to do everything we can to get this increased. Instead of future loans, we should also implement this on current loans so that POC can get an interest rate of 2% fixed. I'm okay with white people getting 7-10% interest rates
The hardworking individuals TOOK $ they didn't have in the form of a loan
Banks just don't loan to them so they never assume the risk. Biden is making homeowners with large loans assume the risk which is wrong. We already have to pay for 2008.
Cab drivers don't own homes, the business owner maybe.. First time homebuyers are quickly becoming a thing of the past as the middle class VANISHES. When you adjust for inflation cost of living people don't make enough to "work hard and struggle through it" like the gentleman said. This isn't the 1950's and 60's where 1 person working can support a mortgage, car note, student loan, family of 4. That used to only take up 60% of average monthly income. Now it's 150% fully accounting for inflation. People aren't getting married, having kids, owning a home at record numbers by choice, it's impossible now unless your household income is in the top 25% of Americans.
This is absurd. Why would you punish people for managing their finances better
Have you been under a rock these last ten years? The name of the game is to punish success! Got to pay that welfare and national debt somehow!
because majority of people don't have good credit, but they can vote, duh. whoever is pulling the strings are not stupid. They know how absurd these proposals are, but they willing to do it for short term gain absolutely.
@@FreshArtsy I'm not sure that many understand what you said here. Same thing with student debt, et. al. We have come to a point where more people are voting for free stuff than there are votes from people who pay for it...
@@billcrowley8997 ya this one is way effective cuz low credit population is lot larger, and many may even voice of their discontent with how dumb this is online. but secretly of course most ppl that would benefit from this will more likely to vote a certain way -_-
@@FreshArtsy Exactly
Same as welfare. Working people must pay taxes for those with 10 kids and no job.
@@_outofphase5480 Thanks for that. I have been saying it for ever. They do not lie, they just don't tell the whole story. Tax cuts only help those paying taxes.
Bombing brown children is even more expensive than that
Yes so many people have 10 children. Just think they will be paying for your social security when you retire. Are you fine with the 20 billion in no income requirement farm welfare we shill out to 2 million farmers every year.
Who don't even want to work and smoke crack.
@@tombeegeeeye5765 no i paid for my own social security dumbass if you worked you would know that wow democrats are so stupid
It took 40 years to get our credit scores over 800 which today means nothing.
Yep. I average 828 (just reviewed it). My credit card offers start around 24.99%. It's meaningless now, and it's about to get more meaningless. I have never in 54 years missed paying any obligation, period, including of course taxes. That makes me, in Biden's eyes, an incredibly dangerous extremist or even a domestic terrorist.
it took me only about 15 years, were you smoking crack the first 25 out those 40 years?
How? It shouldn't take more than 7...
@@tesladrew2608 Not everyone makes perfect choices throughout life. It took me from age 18 to age 54 to break 800 due to dumb choices I made. I actually never went below 680, but I did have some struggles.
@@mikeg3439 You’re pathetic dude. YOLO right?
FJB, Biden and his cronies must go!
They're all on the same team, it's all planned, 2030 hellscape
Finally I have a reason to let my credit go to sh*t and live the irresponsible carefree life I always dreamed of.
Unfortunately, TRUE
That's what they want. Perfect plan to have complete control!!
Hell yea that's the new American dream
Haahaaaaaaa....Love it
I figured that out a few years ago but unfortunately I've already been responsible so I can't get away with it.
First it was student loan forgiveness, now its "help others to buy their home." Umm, no.
You will notice they haven't actually forgiven any loans yet. They always promise this stuff to get votes, then renege. Or selectively enforce it after the fact.
You have no choice....it's a done deal as of May 1st.
The people who work and are responsible will be paying those who don't work so they are able to buy what they want. It's called equity.....aka Socialism.
No way
Next it will be subsidize their electric cars!
You didn't have help buying a home?
The whole world is just laughing, watching America crumble. This is unfathomable!
And I admit, I've wept more than once at the state of our Union. Shameful and we citizens, who care, deserve better.
Once again our government looks for ways to punish those of us who follow the rules and go to work and stay out of trouble and pay our bills.
.... Yeppp,The white middle class Americans
Trying to make everyone poor so it becomes easier to buy votes, that’s it
I totally agree
Once again the elites are doing what they want and the boomers are complaining about it and not loading their firearms. 😢😢😢 You earned this.
Those happen to be the only people they can steal from. The sheep that will allow themselves to be pushed around. The ones who go to work everyday and produce value for the country. Too many on the left have their hands out wanting the money from the working man. And you give your voters what they want, or you say you will. Buy their votes any way you can.
I worked with an individual that made the same wage I did but lived beyond their needs. He went bankrupt twice, the second time within a few months was driving a brand-new vehicle all the while I was making my mortgage and driving a 12 year old truck. And who pays for their lack of responsibility, we all do.
Not all of us do. Only responsible successful people do.
I worked with someone just like that. He lived at the country club golf course and me in the country on a dirt road. He filed bankruptcy twice and in 2 yrs had another 2 story home 2 new cars a boat motorcycle and jet skis. How the hell ?
And those poorer home owners will default again as before.
These people worked for a good credit rating
Isn’t this similar to the policy used back in 2007 - 2008? I’m pretty sure America remembers how well THAT worked😡
Yep, but actually it's worse! After the debacle and market crash new laws were enacted so WE, the taxpayers will not be responsible for the defaults of the future, so now we get bank bail-ins instead! More BS to come folks!
Same person behind the scenes
Don't worry....when it all collapses and it will...WE will just have to bail them out again.
You can bet your life these people will be living in a better house than those with a good credit score.
@TripleSeven, Clinton implemented the policy. It just crashed under Bush.
I remember. Had just become a process server. Spent my days going through empty neighborhoods posting court notices. Not that it mattered, most people had already abandoned their over priced cookie cutter homes. Most of these neighborhoods I was lucky to find two families still on the block.
Never would I witness a government that would punish people for Hard work
obama??????
wtf is this? So if I want to sell my house and buy another one, I would be subsidizing someone with bad credit? the whole governments common sense has gone upside down.
It's time the whole freaking conservative populous file a class action law suit against this POS!
Yup
It used to be the other way around. People with good credit scores were charged a lesser interest rate because you are a lesser risk and people with bad credit ratings had to pay higher interest rate.
Exactly wtf
Get what u voted for remember that 😂
I would ask if Biden is demented, but I already answered my own question.
@Mike George, If they told Joe, that he can’t run for reelection because he’s already in his second term, do you think that he would believe them?
You don’t think this man is devising this on his own. He can barely say a cohesive sentence. That’s why they shuffle him along and he takes no questions.
He has always been demented.
@@harryfarber6435 YES!!!
This is not dementia. Come on people it’s all part of the plan. They destroying America. Get it through your heads. Stop making excuses for rhem
I am debt-free by not spending like I'm in Congress, and then those MFrs want to punish me for affordding a nice house?!
while they go home to their millions
The 2008 crash was caused by the same type of government intervention. The government pushed banks to make risky loans.
2008 crash was caused by baby boomers retirement
@@chrishart8548 It was caused by the government pushing loans to folks that couldn't afford them.
@@chrishart8548
You're WAY off.
@@chrishart8548 No, but there isn't anyone to take their places in the workforce
That's not what caused the housing bubble in 2008 and 2009. Just stop it. For the love of country turn off Fox News. Strong opinions and lies, no facts.
Rewarding bad credit and punish the people with good credit, I’m done
Keep voting 🗳️ liberal you will pay the price
@@rafelgraciegraciee6313 cant add to that, liberal, far-left agenda is purposely destroying this country...
I recently made the decision to leave the US. I know if you haven’t been outside the country you think it’s the greatest ever. I’m here to tell you there is actually better options. What you are feeling is what the romans felt in the last days. I really hope I’m wrong because my extended family is still there.
Social credit system is amazing isn't it?
Credit is a scam sweetie
I bought my Home during Trumps last year in office. Paid a handsome $190k.
With Inflation it is now valued at $379k Today I would NOT be able to afford this home. Mortgages would be double.
Thank You TRUMP! LOVE MY HOME.
This is a sneaky way of snuffing out home ownership. They know people will lose these houses and they can shck them all out for rental properties. It is ridiculous.
Worked two jobs to pay off debt and buy my first home and now I got to pay extra for those that dont
This is borderline criminal. Something needs to be done. I didn't work my whole life to have good credit to be screwed over to subsidize someone else with poor life choices.
You know how they say 'write your congressmen'? I was a strong advocate of that practice for many years, until I realized that the only responses I'd receive were automated and usually informing me that because I was not one of their constituents, I couldn't be helped. Politicians are USELESS!
Imagine that you have 2 kids, and you punish the one who behaves, and reward the one who doesn't. One of those kids is going to hate the other one. And you're going to end up with two delinquents.
The democrat way, punish good people to help the skells, deadbeats and welfare recipients
Very good analogy!
REMEMBER 2006 , LOW INCOME INDIVIDUALS WERE ALLOWED MORTGAGES , RISKY MORTGAGES WERE " BUNDLED " BY " SOME " COMPANIES & SOLD OFF TO OTHER COMPANIES .
***** IF THEIR CREDIT RATINGS ARE ALREADY " L O W " , *** COMMON SENSE THINKING SAYS THAT THEY CAN'T MANAGE THEIR FINANCIAL AFFAIRS , ******* PENALIZING GOOD CREDIT RATINGS ISN'T USING
*** COMMON SENSE THINKING !!!!!!!!
Great point
But I thought Biden said he would unite the country
This IS Fxxxx unbelievable! I worked hard to keep my excellent credit. Now I’ll be punished for being responsible?! WTH is going on here?!
Democrats
Give this man +1 social credit score
"I will not add taxes to the middle or lower class!" Who else remembers when he said that.
Didnt u vote for home
Remember when Obama was running? He declared he was going to end the wars Bushy Boy started. Did he? Oh hell, who ever lives up to their campaign promises?
Time to throw these people out of office
And into a wood chipper.
We already did in 2020 but he somehow overrode and hijacked the system. If we can't figure out how to outsmart these mother efers, we will definitely get screwed come election 2024.
Gallows ! What , f__ nightmare 👹
Time to put them in prison where they belong
Gonna grab your musket and taliho on over to DC?
Please Lord, can anyone rescue us from this out-of-control Government?
Keep the faith. God promises that we'll be taken care of. Yes this world will pass away but the faithful will prosper forever.
Yes. RFk jr.
We the people🤷♂️
Yes. That'd be you and your neighbor. Have faith in your fellow man. And don't believe anyone who throws out a person's name claiming that they will help you. Our reliance on individuals seeking power is what got us into this situation. We need to rely on each other and self govern accordingly. Rebuild strong communities. Reestablish the nuclear family. No one singular person can do that for you. Anyone who claims otherwise is either delusional or lying to you.
Give it another 5 years
Yes. If you work hard, make good decisions, and are responsible, you get penalized. There is a huge difference between equality and equity. This is a terrific example of equity. This is wrong!
Wait, isn't this what led to the subprime mortgage failures that caused the housing market to crash and subsequent recession in 2008?
Yes
Land Grab part two is a go, FJB
What do you expect from obamas 3rd term?
Yes. His former boss and his hare brained ideas. At it again, apparently.
"The government cannot give to anybody anything that the government does not first take from somebody else." Adrian Rogers
Punishing responsible people who earned good credit scores to buy votes is pure political corruption. Smh
We need term limits for all political offices and eliminate political parties.
Excellent way of describing it
If you guys can afford the play golf and live in the suburbs I’m sure a little extra taxes won’t hurt your comfortable life to much
The problem is that some young and and poor people really don’t deserve it because they are lazy pieces of shits but some are really hard works that have it very hard
I’m so sick of this mess! The world we live in has really gotten bad! It’s going to make people stop wanting to better themselves, especially when they start forcing their agenda on innocent people.
This Family Makes Me So Angry. WHY ARE WE TOLERATING THIS?
Generaly everyone who budgets there finances, stays out of debt, and saves their money, gets screwed. We can't even keep it in a savings account, or in cash, without it being devalued by inflation, resulting from reckless government spending.
But people can vote - if they know the truth - and don't depend on the government for everything. i.e. welfare.
@@mojopare8954 welfare doesn't take up as much spending as you think. Out of a dollar, its a few pennies only. We spend so much on war caused and created by our Republican party.
@@TA-np4mc Ukraine is the dems baby
@@TA-np4mc no you are flat wrong , don't you dare blame republicans for war when we had 4 years of Trump , and no war. Then sniffy gets in , and it took a year for Ukraine to happen , right after we imported record amounts of oil from Russia to pay for their war , and then they take our taxes and send it to Ukraine... smh we pay for their defense , and Russia's offense .. This is all dem crap , republicans didn't do this , and you will not sit here and blame us for something we didn't do .
@@robholmes2129 nice try, let me give you a little history refresher.
Vietnam War $533 billion - Republican
Persian Gulf War $116 billion - Republican
War in Afghanistan $785 billion - Republican
Iraq War $846 billion - Republican
We've spent roughly $75 billion in Ukraine
But lets blame the government for spend 1% to help the poor and forget that they fail to collect billions of tax revenue from billionaires.
Punishing responsible people who earned good credit scores to buy votes is pure political corruption. Smh
We need term limits for all political offices and eliminate political parties.
Nearing the end of times when evil becomes good and good becomes evil.....
Ain't that the truth...
End days
God bless us all
😂😂😂😂😂
1984
Socialism is just a stepping stone to communism.
🎯
Aye and gender confusion too
Agree. I used to say that all the time. But now I say “soc’ism is just a more socially-accepted way to say comm’ism”. The people, and politicians, who call themselves soc’ists are really actually supporting and/or pushing for comm’ism. And some, like AOC, are card-carrying members of communist groups in this country.
It’s easier to get people onboard when it’s ‘socialism’ or ‘progressives’, but we need to call it out for what it actually is. Use the less appealing word.
@@БогданНовоградов-ш3т - Millions of working class people have homes now under capitalism… Who do you think the homeowners in this country are? They are mostly middle- and working-class everyday people.
And those who don’t have homes, they have the freedom and opportunities to work, save, invest, create their own businesses and side hustles, marry and have two incomes to increase savings toward a home, take out a loan if they choose, make financially-responsible choices with their money, etc in order to buy a home just like everyone else.
Irresponsible behavior= reward
Responsible behavior= punishment
Overall just means it's better to be Irresponsible.
This is ridiculous. How are we punishing good behaviour and allowing bad behaviour to flourish.
Give this man +1 social credit score
It says in the Holy Bible (kjv) book of Isaiah "woe to them that call evil good and good evil."
That's what happens when a Kenyan homo becomes president this is Obama's doing
Wow. We are in absolute hell.
By allowing Liberals and the media to run our society.
If Americans keep voting for this kind of Government, we will get more great ideas like this. The America I was raised in is so far gone. This is insanity.
Because the stupid out number the intelligent, and the stupid want their free stuff.
This probably doesn't even happen in the so called communist China.
We are not voting for this
Elections are rigged. Wake up!
I have a feeling in my gut that Biden was placed as president not by voters. And it is with the power of the crackpots control in the White House and beyond our control. Biden is a puppet who will sign anything. If he wins the next election, my women's intuition is true. I did not vote for him. He's a snake.🇺🇸
Voting doesn't work
Madness!
They should not be allowed to implement these policies without prior Congressional authorization. WTH ? First time home buyers already have access to FHA loans, but they are required to pay for mortgage insurance. I'm curious if that is what's happening..they will get lower rates PLUS the mortgage insurance waived ? This is very irresponsible and may trigger another 2008-style collapse in the mortgage securities market.
such is what the deadbeat democrats want just as democrats did to result in the previous "great recessions"
It will be worse. The recovery was as false as the particle-board McMansions. The decline was arrested, but the inventory buildup was tepid and plagued by red tape. I wonder how the people who have paid their mortgages off will be targeted. Property tax hikes, sure. But this is an obvious shakedown, so maybe an obscure wealth tax since actual home ownership is a dying craft.
Or less people will buy homes, opening up more homes for investment groups. Since 2008 more of these groups have decided that if they foreclosed, they could rent the homes out and make money. Now it is a whole new income stream they are pursuing.
@@theresagomez2605 You also have a situation where, just like in 2008, the buyers can't really afford to be a homeowner. It's not just the mortgage payment, you have property taxes, higher utility payments than if you are renting an apartment, as well as ongoing maintenance costs.
@@pauljoseph2400 even more homes to foreclose on and take possession of. It's a win-win for the banks.
Getting rid of the middle class!!!!
Yep. My wife’s taxes jumped 10% because she made over $47k. 12% to 22% for just a few hundred over $47k. That disincentivizes working hard and promoting, finding a better paying job, etc…
Crappy part is your tax dollars go to other countries and random junk
There hasn't been a middle class since boomers took the reigns.
There's no middle class on a plantation.
End the FED.
subsidize the loans of high risk buyers....can't believe we are hearing this!
Unfortunately I can. I think they'd try to force homeowners to let people live in their home rent free if they could. You could argue the kind of already did with the COVID eviction moratorium. And I think something along those line has been attempted or may still be in place in CA. This administration and so much of what they're doing needs firm and tangible resistance.
Can't believe we are hearing this AGAIN! It's been tried and doesn't work!
“With all due respect, I am against dumb.” ~Senator John Kennedy (R-LA)
They are deliberately burning down the country to rule over the ashes, with us "peasants" enslaved and at their complete mercy for a bowl of rice a day, that's the end goal here..
Equity in a nutshell. "From each according to ability. To each according to need." KARL MARX. Wake up America!!!
But then you'll be woke!
@@tesladrew2608 No, you will be AWAKE! So much better than WOKE.
@@tracieroberts6323 woke is awake lol
I guess with how the things are going, soon we will see fascism on the rise. After all, its the only thing that works against the extreme left.
@@tesladrew2608 not really. Talk to anyone who says they're "woke" and you'll find out how asleep that are.
this is all so depressing. One bad thing after another.
congress can say NO
Exactly
But they wont
@scruffnutz Can this be challenged in court, then?
Challenging
Congress just a bunch of buttsuckers...probably their idea letting Joey take the blame...they all profit from it...
I certainly hope that the people who suffer from this the most are those who voted
democrat. If this doesn't wake them up, then let them lose everything.
Even Jesus offed a mofuka in some lost book.
It will only hurt conservatives. The left loves socialism and having someone else work to support them.
Most divisive comment I’ve read in a while
@@chrisg.7625 - No one owes anyone a house!!!! Or as Biden the dementia fraud tried earlier, a college education!!
Pay your own bills.
@@chrisg.7625 But accurate.
$40 per month for 30 years with a compounding interest of 7 percent will cost you 45.5k dollars!
We saw this before the consequences were earth-shattering
We should stop paying taxes and give the IRS agents who show up to our door a piece of our minds.
hhohohohoho.....😂😂😂😂🎉🎉😢😢 lots of people waiting for the go light!!
@@markme4 You say that as if it can't be done if we stick together.
@@loualbino5536 But we will not stick together, of course
Stop doing anything that an elite sees the reward of.
@@markme4 I will
This is why he will not be the president in two years. Americans are sick 😫 of him
Punish the responsible people!
Under joe Biden 🤏🏾🤏🏾🤏🏾🤏🏾
New York, California and Portland are master at the sport.
Give this man +2 Social credit score
Yep. Credit scores are raycist.
@@elesjuan facts!
I lived and worked through the 1980's home loan debacle and the formation of the RTC slushfund and the Lehman Bros. bankruptcy all from toxic home loans and toxic derivatives formed from toxic loans. This is leading in the same direction.
The rates were in the teens in the 1980s. I think our mortgage loan rate was 13.7%.
Only this one will make 2008 look like a tea party.
This makes a lot of sense in the way everything else seems to make sense in democrat USA these days. How the mighty USA has fallen.
What's the sense of even having a credit rating if this is how it's going to be
It will be turned into a social credit score, so the governments can control spending, issue expiration dates and monitor our every move. It's happening in China now.
Yes it does. So we can pay for reckless Joe mortgage out there
That's fine, I can make my credit score go down real quick. I don't need anything I can't save up for and buy anyway.
so many spot on remarks in this video. 4 people with more educated insight than the entire biden administration
more money and foreclosure properties for the banks.
More opportunity for first time home buyers to get a house then
@@ALEXdaG Until they don't pay the mortgage that they can't afford. People have bad credit for a reason.
That's why we need The Donald sooner than later.
No!
The dummies who all voted for BIDEN need to feel this consequence.
TRUMP should NOT rescue them .
They wanted daddy BIDEN let him ruin them
Bad credit is a result of bad personal behavior. Joe needs to realize that you can't fix stupid.
We're headed toward universal basic income. This is sickening.
During a depression? That will only cause hyperinflation. They dun run outta road hun.
It's all a macro-segement of overall ESG scoring. It's already being calculated behind the scenes.
By 2028, the transition will be complete.
@@cheesesniper473 They still don't believe we're in a recession, which obviously we are. We are also headed towards CBDC and a social credit system. It's ludicrous what's happening.
Actually we headed for
Economic collapse
Everything is being done on purpose 😌..
They know what they doing
I was wondering the same, any ideas what are they trying to do except the part of buying votes?
FJB!!
Credit card rates are at 23% bullcrap!!!!!!!😢😢😢
Yep, both my AMEX and Visa were closed by USAA and I had 6.9% and 9% and paid my balances monthly, but I wasn't making them any money so they closed me out. Screw them and their lousy insurance!
@@user-uo4rf4ez8c you have no choice but to pay AmEx monthly, it isn't a traditional credit card
Balance always due in full.
Correction: Most of them are higher than 25%
APR shouldn't matter if you're using the CC responsibly.
They subsidize the loan if you default on a loan to government ends up with the land what do you think they're doing here it's a land-grab situation
China must need some more property.
Yup. Called it!
Wow. What a slap to the face of everybody for being successful.
They want to steal from people that have good credit or money
Yeah your greedy cunts
I worked so hard for years paying interest rates feeding the banks to be punished in the end.
Let's get that crazy guy out of the White House!!
I can't imagine the courts would let that go,he is going way out of bounds. He talks about MAGA being the problem what in the world do you think he is but a big problem. The Congress better step up and shut this guy. Down now Start with this budget he wants to go down this road than no taxes dollars go to him for anything. And yes can be done😊
Congress can shut him down but they don’t! Why is that? Joe has got the goods on them and to defy him in anyway will result in them being exposed! Congress cannot be that stupid as to allow him to do what he does!
Nothing like extending Home Loans to folks that can not afford a House Payment and being apart of the next home mortgage crisis! I can only guess that we've not learned anything from the past!
Imagine if you will, ghetto people getting a Section 8 mortgage! Paid for by you.
Kind of like giving out student loans to anybody and not everybody really belongs in college.
We did, but SOMEONE has apparently forgotten that also.
Actually 2008 was a trial run. This is the full plan. They did learn. Instead of rewarding success they want to make everyone evenly mediocre.
Time to just be…a criminal? 😓
Absolute insanity, welcome to Venezuela 2.0 🇻🇪
My property values tripled the past year. Nothing has changed in my property. It's all about taxing for the neighborhood being built down the street. I'm beyond livid.
And the fact that your dollars are now worth 2 cents.
@@dr.burtgummerfan439 I'm unhappy to say the least. We will be protesting.
The point of credit is so that you act sensibly monetarily. To make the ones with good be leveraged unwillingly so the bad can live like the good is INSANE!!!! THAT DOES NOT FIX A PROBLEM, IT BREAKS ANOTHER THING THAT IS WORKING FINE.
Democrats and the evil people they work for are morally inverted, this is just one more example of it..
The new world is what is right is wrong and what is wrong is right
At this point we need a revolution. He could have paid for that by not stealing tax payer taxes why is he charging responsible people? Rich people are so out of touch that they don’t realize that some poor people have great credit scores. I was raised under the poverty line my whole life and my mom always had a credit score above 820. All you have to do is have three credit cards and use them to pay your bills and then pay them off in full.
Let's hope that someone, anyone, sues to stop this.
Let’s really up a protest like they’re doing in France any one with me
Free ride for unlawful foreign nationals & US derelicts at the expense of law abiding citizens & permanent residents.
The government hates law abiding middle class which is why middle class is dwindling. They love the elites and reward bad behaviors.
Foreign nationals did I miss something the free ride is for us banking organizations don’t let your xenophobia blind you to what the powerful institutions in this country do to rig the game
Those same people will still not be able to pay their bills, because that is their history, hence the low credit rating. Buying is a privilege that is earned, it is not a right.
Get Biden out of office ASAP!!! This dude is a menace to our society.
That doesn't solve anything if there still breathing and living of our back
It should be an UNCONSTITUTIONAL taking of a private property right.
And which party wants to change the Constitution beyond recognition. I wonder why.
@@JohnSmith-ux3tt I hear what your saying but
To be fair: Trump said “we” should “terminate the constitution” so he could stay in power despite the 2020 election
Maybe tackle civil assest forfeirure, first.
I live in Connecticut and I am forced to pay a $12.00 fee on my homeowners insurance to help those people that have crumbling basements due to faulty concrete. I live in a 214 year old home. No one is helping me with my crumbling basement, rotting windows, etc. How is this even legal??? What's the difference between this and what Biden is going to do. These democrats have got to go!!!
Based in this information. I report his actions as crimial behavior towards the American citizen.
"Those who don't read the papers are uninformed, those who do are misinformed " Mark Twain.
So, i should not have been paying my bills these past 50 years? Well, dang, now you tell me !
Seriously, this is demoralizing.
I am anti rioting but I think this case is an exception!
They tried that previously and it lead to the subprime crisis. They didn't think it was fair that only people that could afford a home be the only ones that could buy a home. The result was lowering standards and increasing default risk.
If people saw all of the fees and special taxes a builder has to pay then you will know why one of the reason houses cost so much.
You forgot to add the pay-off's and political contributions.
Ugh, it is mostly due to illegal immigration and anchor babies. Imagine if California deported 25 million of those. Houses would be 80K instead of 1.36 million and rents 300 bucks. Empty places and empty freeways.
we should waive the fees and taxes for the builders.
@@Elvengem One of the biggest cost for a developer is bringing in the utilities, there is a city two away from where we live, they have vacant lots everywhere, all the utilities are in, they could easily build lost cost rentals, 2 to 3 bedrooms for 1k a month and they would have lines go down 4 blocks to move in. Nope, no one wants to take it on, there is so state money but more trouble than it is worth. The government is the biggest hurdle for getting anything done.
@@Moondoggy1941 interesting info.hope they come to their senses.
If you have good credit just go rent. Dont buy a house, force the housing market to crash . The people with bad credit will default anyway.
Very wise advice!!✌️
Why the heck are we paying for those who have worse credit?! My husband and I worked hard for many years to keep a great credit score and low interest rate in our home. Why should anyone but us benefit from that?!
Biden doesn’t think he’s far left. Lol
Biden is a M0R0N
Biden doesn't even know what day it is.
Ol' Senile biden gonna leave us in a bad wreck
Biden supports crony capitalism.
Nah, Biden isn't doing enough to clean up the disaster Trump left in his wake.
I agree with not subsidizing stuff, but that old man talking about how he was paying 18 percent for his home.
STFU. Compared to the average income in the 1980s, homes were not as expensive back then as they are now.
I believe the guy said he bought his house in 1970, which means he only was paying a five-year mortgage loan because Richard Nixon working for big banks made us pay 30-year mortgages after 1971, I believe I could be wrong.
That's rite I payed13% back in the 70s on my house and didn't get any help 😮
Yes, it is because the pay per hour was way less than today