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Willow Creek, CA

County may consider restarting first-time homebuyer program

Depending upon the availability of grant funding, Humboldt County could resurrect its first-time homebuyer program on a relatively small scale.

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old timer
Arcata, CA
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Judge it!
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#1
Jun 16, 2008
 
Well it is a start.
But what are the priorities in this cash strapped economy?
Anonymous
Arcata, CA
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Judge it!
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#2
Jun 16, 2008
 
This will put a floor on declining home prices, supporting the housing price bubble. Its really a subsidy for home sellers. By creating a group of subsidized buyers whose ability to purchase is public knowledge, home sellers will have less competition from lower priced houses.

They should do this program when the numbers of sales bottom out. Then sellers and buyer both benefit as prices will reflect the market, not the bubble. Supporting the price bubble now just puts off an inevitable correction and makes the eventual correction sharper and more disruptive.
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