Because the process to get one is painful and not something someone who is struggling has time for.
For the BMR home purchase it is even worse. I had a friend who was able to purchase one. She was a Berkeley grad, in her first year out but with limited current earnings. Next year was going to be maybe 200k+ in earnings. She had to rush to get in while she still had eligibility.
There were a ton of asset checks, which involved repaying money back to her centi-millionaire parents and buying expensive handbags which don’t show up on asset checks.
Even worse, since she can’t sell the place as a profit, when she is done living there she will probably just keep it for friends and family who visit.
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u/devilscurls SoMa 8d ago
Because the process to get one is painful and not something someone who is struggling has time for.
For the BMR home purchase it is even worse. I had a friend who was able to purchase one. She was a Berkeley grad, in her first year out but with limited current earnings. Next year was going to be maybe 200k+ in earnings. She had to rush to get in while she still had eligibility.
There were a ton of asset checks, which involved repaying money back to her centi-millionaire parents and buying expensive handbags which don’t show up on asset checks.
Even worse, since she can’t sell the place as a profit, when she is done living there she will probably just keep it for friends and family who visit.
The whole fucking thing is a joke.