Public Housing for New Arrivals

The federal government, backed by major investment banks and corporations, is advancing an agenda through public-private partnerships to give priority to recent immigrants over U.S. citizens for assistance with wealth accumulation and subsidized housing.

Notably, after the Texas border was sealed, undocumented workers were redirected to enter the United States through California and Arizona, prompting the California legislation to extend the California Dream for All Shared Appreciation Loan program to the new arrivals.

The program, which is administered by the California Housing Finance Agency, was launched in 2023, with $300 million set aside for 2,300 applicants to provide up to $150,000 for the down payment of a loan and closing costs for zero-money-down, no-payment program for up to 20 percent of the cost of real estate to purchase a house. It was not immediately known if the new homeowners are required to pay real estate taxes.

The bill (AB1840) for a Home Purchase Assistance Program extends the program to undocumented immigrants on grounds that “the social and economic benefits of home ownership should be available to everyone.”

“The California Dream for All Program should be available to all,” according to its backers. “When undocumented individuals are excluded from such programs, they miss out on a crucial method of securing financial security and personal stability for themselves and their families.”

The legislation has yet to be signed into law and can be tracked here: https://digitaldemocracy.calmatters.org/bills/ca_202320240ab1840

The original fund ran out of money after 11 days.

Read the rest of the article on Susan’s Substack.

(c) 2024 Susan Bradford

www.susanbradford.org

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