This is the kind of bullshit you get by voting blue no matter who.
Ah, right because the alternative R governor totally wouldn’t be worse for undocumented immigrants amirite?
Shit logic.
No, because it’s the same animal.
Reading up on AB 1840, it looks like (from what I can grok) this would help undocumented immigrants to get more affordable loans. But they would still be loans, not grants (right?) So I don’t quite understand Newsom’s budget argument. It’s a loan. Most of the money will be coming back over 30 years.
That said, CA’s housing supply is trash, and if this was a ballot initiative, I think you’d have a real hard time passing it. People are rightly or wrongly going to assume that this will increase competition in the buying market. When a house sells in CA’s major metros, it’s on the market for 2 weeks and the seller is sifting through dozens of offers.
Tysm for the source, I do understand the budget argument as currently there are almost no itin loans being underwritten by banks. If the banks don’t think they can make money on it, greatly expanding the market (while noble) sounds like opening the floodgates of losses. It also could create a gold rush/competition if California is successful but that literally may take 15+ years to find out.
