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Free Money Won’t Work! It’s all about Supply and Demand!

Free Money Won’t Work! It’s all about Supply and Demand! As the political season ramps up and campaign promises are being made, it seems common sense has taken a break. One candidate has been touting a plan to "help first time homebuyers" by offering $25,000 in free money towards a down payment on a home. However, that will not help lower home prices. In fact, it is likely to send house prices sky high, even more then they already are. See pricing of homes is determined by the market. And how does the market decide? By supply & demand. Raise the supply and prices will go down. Or lower the demand and prices will decrease as well. Yet giving out free money is going to enhance demand. Increase demand, but if supply remains the same, prices WILL INCREASE! Oh, but they also want to increase supply! OK, sounds good on the surface, but let think about this: HOW can the government increase the supply of homes? They could incentivize or subsidize home builders but that takes money and spending, which will then cause inflation to increase and raise prices! So that won't work. And giving away money to buyers will also increase inflation and demand, which is a double whammy for price increases! Bottom line, home prices are going to continue to rise, just as they have for every year in recorded history except for 2008-2010. So if you are thinking of waiting for prices to come down, you're likely going to wait forever! Looking for more Real Estate Common Sense or advice? Contact Steve Turner REALTOR & New Home Specialist with House Broker Realty. #realestatefacts