New Homeowner Program Shows Why California Is Unaffordable

(My Epoch Times article)

It sounds really great for homeowners. The California Mortgage Relief Plan will provide 40,000 California homeowners up to $80,000 in relief, each. They even won’t have to pay it back. It was just approved by the U.S. Department of the Treasury as part of the federal American Rescue Plan Act’s Homeowner Assistance Fund.

“We are committed to supporting those hit hardest by the pandemic, and that includes homeowners who have fallen behind on their housing payments,” enthused Gov. Gavin Newsom, who is running for re-election. “No one should have to live in fear of losing the roof over their head, so we’re stepping up to support struggling homeowners to get them the resources they need to cover past due mortgage payments.”

But where does the money come from? Everybody else through higher taxes. In turn, these homeowners will pay higher taxes for other programs for other people. It’s a web of subservience to government in which everyone pays for everyone else, with the bureaucratic middlemen grabbing a large cut.

READ THE REST HERE:

https://johnseiler.substack.com/publish/post/46321991