By Kenneth Schrupp (The Center Square)
The California legislature passed a bill allowing undocumented immigrants to make use of the state’s $150,000, 0 down, 0 interest home “loans.” The bill now goes to the governor’s desk, where he must either veto or approve the bill by the end of September.
California has one of the worst home shortages in the nation, with an estimated 4.5 million home shortage, and a nearly $1 million median home price.
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“Many generational Californians can’t afford to buy a house in their home state thanks to Democrats’ unsustainable economic policies,” said State Senate Minority Leader Brian W. Jones, R-San Diego, in a statement urging California Gov. Gavin Newsom to veto the bill. “This policy is not only unfair but also sends a dangerous message: ‘Come to California, whether legally or illegally, and claim your $150,000 home loan.’”
The California legislature passed a bill allowing undocumented immigrants to make use of the state’s $150,000, 0 down, 0 interest home “loans.” The bill now goes to the governor’s desk, where he must either veto or approve the bill by the end of September.
California has one of the worst home shortages in the nation, with an estimated 4.5 million home shortage, and a nearly $1 million median home price.
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“Many generational Californians can’t afford to buy a house in their home state thanks to Democrats’ unsustainable economic policies,” said State Senate Minority Leader Brian W. Jones, R-San Diego, in a statement urging California Gov. Gavin Newsom to veto the bill. “This policy is not only unfair but also sends a dangerous message: ‘Come to California, whether legally or illegally, and claim your $150,000 home loan.’”
Syndicated with permission from The Center Square.
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Conclusion:
In a state grappling with a severe housing crisis, the decision to allow undocumented immigrants access to $150,000 home loans sparks controversy and debate. While some argue it is a necessary step to address the housing shortage, others express concerns about the message it sends and the impact on local residents. As the bill awaits the governor’s decision, the future of housing policy in California remains uncertain. Stay tuned for updates on this developing story and more news on DeFi Daily!
