Trump admin upends housing finance for many

  • Thread starter Thread starter wmheel1287
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wmheel1287

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In a purported effort to prevent loans from going to illegal immigrants, FHA announced today that it was canceling any underwriting for anyone who is not a US citizen or Gen card holder. This also knocks millions of those with legal status such as DACA, work permits, visas, TPS, etc out. The ripples will be huge. Driving now and unable to type much detail but the link is a video I made earlier for NC brokers to let them know.

They also ended many down payment assistance programs.

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wmheel1287 said:
In a purported effort to prevent loans from going to illegal immigrants, FHA announced today that it was canceling any underwriting for anyone who is not a US citizen or Gen card holder. This also knocks millions of those with legal status such as DACA, work permits, visas, TPS, etc out. The ripples will be huge. Driving now and unable to type much detail but the link is a video I made earlier for NC brokers to let them know.

They also ended many down payment assistance programs.

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I assume this is all part of the plan to clear out all immigrants in some sort of shitty misguided attempt to rectify the housing crisis for “real Americans”?
 
Slowest housing market in years, and now we are taking millions of potential buyers off the market.
 
I was listening to an interview with Ezra Klein the other day.

He made a lot of sense with his opinion of how the left should go about handling the housing crisis.

Make it easier to build more houses. Reduce some of the regulations and restrictions that slow the building process.

A good contractor and good weather and a house can be built in under 90 days, add in some of the regulatory overhead and it's 33% more.

I recall my house failed an inspection because the toilet was 1 inch too close to the counter of the sink YES, 1 inch. The builder moved the sink over 1 inch, then came back after it passed inspection and put the sink back where it originally was. But that cost money because they had to cut the counter and replace it with a new one when they moved it back.

Now I'm not saying to allow builders to cut corners, I'm saying that we need to work to streamline and standardize the process.

Or course, trump is doing everything possible to tank the housing market. From the tariffs on building materials to deporting labor, he really hates potential homeowners.
 
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