$0 DOWN MORTGAGES ARE BACK (Get Paid To Buy A Home)
Published: 2024-03-13
Status:
Available
|
Analyzed
Published: 2024-03-13
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The White House proposed a $10,000 tax credit for first-time homebuyers and starter home sellers, and incentives for developers to build/renovate over 2 million homes.
"The White House was planning to offer... a $10,000 tax credit... to developers an incentive to build and renovate more than 2 million homes..."
Pending
US housing affordability is at its worst level since 1984.
"Nationwide we have the worst affordability since 1984."
Pending
Currently, 38.6% of median household income is needed for an average home payment, exceeding the 30% threshold for affordability.
"38.6% of the median household income is required to make the monthly payment on the average home purchase and typically a home is considered affordable if that number is below 30%."
Pending
99% of the US is unaffordable for individuals earning $71,000 annually.
"99% of the United States being unaffordable for the average American making $71,000 a year"
Pending
Depending on location, the income required to afford a home is 70% higher than in 2020.
"depending on where you live you could require an income that's 70% higher than what you needed back in 2020"
Pending
Current housing affordability levels are the worst since the 1981 stagflation era.
"affordability has not been this bad since the stagflation era of 1981"
Pending
A proposed $5,000 annual tax credit for first-time homebuyers for two years.
"an annual tax credit of $5,000 a year for 2 years"
Pending
The $5,000 annual credit is equivalent to a 1.5%+ mortgage rate reduction for two years.
"this is the equivalent of reducing the mortgage rate by more than 1 and a half percentage points for 2 years"
Pending
The proposed mortgage relief credit is expected to help over 3.5 million families buy their first home in the next two years.
"will help more than 3.5 million middleclass families purchase their first home over the next 2 years"
Pending
Average refinancing costs range from 2% to 6% of the total loan balance.
"the average ref financing costs and they found that it ranges between 2 to 6% of the entire loan balance"
Pending
A proposed one-year tax credit of up to $110,000 for middle-class families selling their starter homes.
"give sellers a one-year tax credit of up to $110,000 to middleclass families who sell their starter home"
Pending
Nevada offers a $25,000 forgivable down payment loan for eligible primary residences in rural areas.
"Nevada offers a $25,000 forgivable down payment to eligible homeowners purchasing a primary residence anywhere in rural Nevada"
Pending
The Nevada down payment assistance is a zero-interest, no-payment second loan forgiven after 3 years or by December 31, 2026.
"this is structured as a second loan with zero interest no payments and it's forgiven in 3 years or on December 31st 2026"
Pending
The Down Payment Towards Equity Act of 2023 is a revised version of a 2021 proposal by Joe Biden.
"down payment towards Equity Act of 2023 which was Joe Biden's revised proposal of 2021 down payment act"
Pending
California's 'Dream for All' program offered first-time homebuyers a 20% down payment.
"California's dream for all shared appreciation loan... this is a program that was introduced a year ago that would give firsttime home buyers a 20% down payment"
Pending
The California 'Dream for All' program, with $300 million allocated, was fully disbursed within 11 days due to high demand.
"the program was so unbelievably popular that all $300 million was completely gone in 11 days"
Pending
Due to its popularity, California's 'Dream for All' program was brought back for 2024.
"it was so popular they brought it back again for 2024"
Pending
A pilot program aims to waive lender title insurance requirements for certain refinances.
"a pilot program that would W the requirement for Lenders Title Insurance and certain ref finances"
Pending
Waiving title insurance for refinances could save homeowners up to $1,500.
"this would save thousands of homeowners up to $1,500"
Pending
Tax credits will be offered to individuals and entities who build or renovate low-cost housing.
"give tax credits to those who build or renovate lowcost housing"
Pending
A $2 billion fund will support the construction of affordable multi-family rental units.
"a $2 billion housing expansion funds that would help support the construction of affordable multif family rental units"
Pending
There are concerns that corporate landlords are using algorithms to inflate rent prices based on competitor data.
"corporate landlords who use algorithms to determine the highest rent they could generate based on nearby properties"
Pending
An initiative to eliminate 'junk fees' in the rental process, such as convenience fees for online rent payments, is proposed.
"aim to eliminate junk fees throughout the Rental process including convenience fees to pay rent online"
Pending
Current housing market policies are unlikely to significantly motivate buyers/sellers and could exacerbate price increases if demand outpaces low inventory.
"this is not enough on its own to push people off the fence and even if it is then we have a big problem that there's a lot more buyers than there are sellers with very low inventory and the outcome to that is simply that prices just go higher"
Pending
A cautionary note is raised regarding past government intervention in the housing market, citing the 2008 crisis.
"the last time government got involved in housing it didn't end well"
Pending
A proposal to allow homeowners to transfer their existing loan balance and interest rate to a new home purchase.
"make it possible to take your loan balance and the interest rate with you when you go and buy another home"
Pending
A proposal to allow homeowners to transfer their property tax basis to a new home purchase.
"allow you to take the tax basis with you"
Pending
A proposal to reduce capital gains taxes on the sale of property.
"reduce capital gains when you sell a property"
Pending
Tax credits should be given to property developers to encourage new construction.
"give tax credits to builders"
Pending
Subsidized interest rates for builders would incentivize increased home construction.
"if you get Builders a subsidized interest rate as an incentive to build more homes they will build more homes"
Pending