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Could You Be Subsidizing Someone Else's Mortgage?
Posted
April 28, 2023
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April 28, 2023
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1:47Now PlayingDo you have a good credit score? Well, then, congratulations, you are now paying for someone else's mortgage. The Biden administration just issued a new rule mandating that homebuyers with good credit scores, over 680, will be charged extra money every single month in order to subsidize and lower the monthly payments of homebuyers who have bad credit scores.
So, if you've worked hard and have been financially responsible your whole life, well, you're going to be punished. But those who have accumulated bad credit scores because they've been financially reckless and haven't paid their bills on time? They are going to be rewarded. But we shouldn't be surprised at this point, right?
This is the mentality behind the leftist equity agenda. People who do the right thing are punished; People who do the wrong thing are rewarded. Just like, if you're an immigrant with a Ph.D. and you want to enter this country legally, you're going to have to wai in the back of the line for many years.
Can you go back in line, loser? We don't need your skills here. But if you're a violent criminal who enters this country illegally with no skills to offer other than making Shanks out of toothbrushes? Well, you'll be able to cut the line and stay here.
You'll probably never be deported. Likewise, if you're a family in San Francisco or LA who pays insanely high taxes, and you want to enjoy a nice stroll in the park without being harassed or fearing for your life, well, tough luck.
But the meth head who sets up camp on the sidewalk and uses the park as his personal restroom, he gets monthly payments from the government of California. You know, one of the greatest investors of all time, Charlie Munger, has this famous quote: "Show me the incentives, and I'll show you the outcome." Well, when you incentivize chaos, don't be surprised when you end up in hell.
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