justoffal
Diamond Member
- Jun 29, 2013
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So a couple comes to me and they're able to make the $35,000 down because they have a $25,000 boosting payment.So are there the usual income requirements from the bank, or will Commiela dictate lower standards for the good of…..equity….so that people who cannot afford a house will get to buy it, and with no skin in the game?
The average house in New Jersey is about $530,000, which would require an income of around $150,000. So affluent earners in the top quintile would get a big taxpayer windfall?
Below is a house listed for $525,000 in New Jersey, looks quite nice to me. Should we give an affluent family $25,000 to buy this, driving up housing costs even more? The Dems’ idea of giving people OPM so they can “afford stuff” just drives prices up more!
(And before the libs scream, “no it’s for the middle class earning $80,000” - news flash: they don’t earn enough to afford a house!)
Here’s a $525,000 house in the middle New Jersey:
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344 East Ave, Clayton, NJ 08312 | MLS #NJGL2044910 | Zillow
This 2100 square feet Single Family home has 4 bedrooms and 2 bathrooms. It is located at 344 East Ave, Clayton, NJ.www.zillow.com
I sell them the house for $650K.
They get a lawyer and sue me for price gouging. I now go to jail.... Do they still have to pay their mortgage?