John Oliver explains how PACE, a program meant to pay for environmentally-friendly home renovations, is fundamentally flawed and can put people at risk of losing their homes.
John Oliver explains how PACE, a program meant to pay for environmentally-friendly home renovations, is fundamentally flawed and can put people at risk of losing their homes.
This segment re-affirms my belief that humans are no better than the lowest of animals, or, perhaps, insects. Too many of us are willing to destroy other peoples’ lives.
ReplyI recon the companies handig out the loans should be responsible if the savings are less than the cost
ReplyBasically I can just start a company and hire some cheap contractors, installing garbage shit and earn shit ton of money….
ReplyI didn’t know NY was shaped like that.
ReplyNo surprise Obama’s face was in here considering the bulk of his cabinet was from Wall St. A real man of the people.
ReplyThanks Obama
ReplyDid she say: “Cocking a few leaks”?
ReplyWhy on earth would _anyone_ trust a random contractor who just showed up unsolicited one day with a proposition to start major renovations on your house, promising that the whole thing can be financed by a magic loan that “pays for itself” down the road? Why would you trust anything the contractor says to you in that situation?
Reply“This is John Oliver and today I offer you part 621 in the America is a Corrupt ****hole series.”
ReplyThe problem with usury and interest is its inherently selfish and exploitative nature or intent, epitomising malice and ill will. Like the house, banks always win.
ReplyThe housing problem in the US is insane. Admittedly it’s not easy to own a home where I live (south of Europe), but there are options. If you choose to move a few miles away from the three or four major cities you’re able to get a decent home at a fair price. Student loans aren’t really a thing here (you can get one but there’s no real point because we have public education), so that’s pretty good. Even low income families can purchase a home, provided they’re willing to live on the outskirts of the big cities. Most banks will approve a mortgage for a couple who has been employed for more than two years in the same company and isn’t in danger of losing their job. If you make a decent paycheck you can even get a mortgage by yourself.
ReplyPerfect? Not at all, but a government program like PACE would have a few dozen steps, including checking your income, the contractor’s required budget, the need for each additional cost, and several other guidelines to make sure you were even eligible. Stuff would be up for approval by the government before any construction began, and the contractor would need to justify any job which hadn’t been deemed necessary by the initial assessment.
I live in the capital and city hall here has programs that allow you to rent and/or buy homes they renovate and put out on the market. But you need to fulfill a bunch of criteria in order to even participate in the program, because the purpose isn’t to trick people into getting mortgages they can’t pay, it’s exactly the opposite, so you’ll live in a home that has you paying taxes to the city and bring back a younger population to the metropolitan areas.
This isn’t governmental “kindness”, this is sensible management. People in debt are problematic for everyone, especially if you live in a social State, where most stuff is being paid by a collective pocket.
If there is a way to screw a good incentive, people will surely find it. I am loosing hope in humanity 🙁
ReplyI had no idea about that under 35 thing! And I am only 43, not that much older. My picture of the USA is – or rather, has been apparently – that people bought homes left and right with 90 or 95+ % paid by a mortgage they might never be able to pay off.
ReplyNow that I think of it, does 2008 have something to do with that?
In ancient times, brigands would take your stuff with numbers and weapons. Now they take it safely with numbers and debt.
ReplyWow John Oliver is back !! This is like one of his old episodes where he actually taught you something and didn’t cry about Trump being a big bad orange man. this is awesome!!
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