Now we don't need offices. So convert them to apartments to lower housing costs in the short term, and telework means people won't move to cities as much in the long term.

This is actually a good idea...

But the White House initiative will make more than $35 billion available from existing federal programs in the form of grants and low-interest loans to encourage developers to convert offices into residential.

Developers will do this anyway if the offices are empty, why not use that money for a government program to guarantee down payments of first time home buyers?

The developers are doing fine, it's the average American that's struggling, stop funneling money to the people who already have a shit ton of it, trickle down doesn't fucking work

[–] ComfortablyGlum@sh.itjust.works 70 points 10 months ago* (last edited 10 months ago) (2 children)

if the offices are empty, why not use that money for a government program to guarantee down payments of first time home buyers?

The Biden administration is doing that also, it just doesn't make as good a headline.

https://www.whitehouse.gov/briefing-room/statements-releases/2023/10/16/white-house-announces-new-actions-on-homeownership/

[–] givesomefucks@lemmy.world 19 points 10 months ago

Always happy to be pleasantly surprised.

Even tho it's half what developers are getting, it's better than nothing.

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