The most striking proposals were for the elimination of medical debt for millions of Americans; the “first-ever” ban on price gouging for groceries and food; a cap on prescription drug costs; a $25,000 subsidy for first-time home buyers; and a child tax credit that would provide $6,000 per child to families for the first year of a baby’s life.
What people don’t realize, is that at some point you will need to sell your house. Wouldn’t it be nice to know you’ll have a higher chance to sell when people have a $25k assistance to help with the buying.
I’m not in the US, so I’m a little detached from this but does the US have an issue with house sales at the moment?
I’ve only heard of buying issues. Why wouldn’t this just increase prices by $25k? That’s precisely what we witnessed in the UK whenever the government offer assistance, there are always buyers so the market swallows up the extra capital and prices increase to offset.
IANA economist, but I’d kinda expect prices to just go up $25k in popular areas. However, the US is really big and has A LOT of places that are less in demand and have cheap housing. Like, many entire states. And even popular states can get cheap if you just go a little away from population centers. I wouldn’t be surprised if those places don’t see a $25k increase.