sweet ! this coupled with a 100 year mortgage will set me up nicely for the future
PracticalChipmunk789 on
It’s already been that way forever.
Old_Rutabaga_9608 on
It’s always smart to borrow against your future income … /s
srmrz_ on
The proposal is only $10k which only helps people in ohio. This is a nothingburger
Otherwise_Cicada6109 on
Lmao the admission that this economic system is so destroyed that we’re now being encouraged to mortgage the futures we were promised with 401ks to pay for things now. Jfc.
HoboBronson on
But will I be able to wager my home equity on crypto or world cup first half over/unders?
Emotional-Relation on
I hate this guy.
Noeyiax on
I know I’m making minimum wage for my 60 years of life, can I get a cash advance of that right now? 😂😉
Yo can I get my own private jet too? I’ll pay it back in 1K years, I promise
Roharcyn1 on
You could already tap into 401k….
tmac4969 on
Not really a solution to anything since those that need it most are unlikely to have significant savings in 401k. The economy at this point really works only for the top 10%
Grossest_Groceries on
You can already take out a loan from 401k for “first time homebuyer” (which means 1st time in last 5 years IIRC) without penalty as long as you pay it back.
Traditional-Hat-952 on
Colin Robinson, is that you?
oakleystreetchi on
Retroactively would be sweet
DJMagicHandz on
Is he really that stupid? Also, is that her normal voice?
Meat_Bingo on
So people with a 50 year mortgage and no retirement savings. Nobody can afford to retire, jobs will stagnate as older workers won’t leave unless laid off so I guess that’s how they expect to cover the low wage jobs formerly covered by undocumented workers. Ok I see the big picture now.
UncleTio92 on
What’s the problem? I’m allowed utilize my IRA for this type of investment. Seems people are just looking for reason to be unhappy
Monskiactual on
You could already do that
stephenin916 on
worse IDEA ever
someoneinsignificant on
There’s a niche amount of high-income young earners who struggle with deciding between putting their savings in mega-backdoor Roth 401K contributions OR waiting for a down payment on a house. Now they won’t have to worry and can do either, hooray!
ZaxxFaxx on
Quick! How can we shovel lots of other people’s money into the economy and make the GDP line go up?
TheDruidsKeeper on
No one has mentioned his suggestion to “take 10% equity of your home and put it in the 401k”, and that somehow grows in value as your home increases in value, making you even more money than the hit you took.. What?
bellybuttonlint00 on
this was already allowed with the stipulation that you had to be a first time homebuyer. now sounds like it doesn’t have to be your first home
wirerc on
All this crazyness, $200B mortgage buy, this nonsense, all just to keep the housing bubble rolling past the election because Trump doesn’t want to get impeached if Democrats win the House.
Jim-be on
So when you’re ready to retire all you have to do is sell your house. Cool. So more old people becoming homeless.
No_Championship4093 on
They are going to “let us” sonofabitching shitstains.
RockieK on
Like, people who are work 4 jobs have 401Ks!
CatsRock25 on
You are already allowed to borrow from your 401k for a down payment on your house. I did it 10 years ago
8thSt on
All my homies got them 401k’s. Ain’t no thing.
BrowserOfWares on
Canada allows this. You have to pay it back over 15 years I think.
dewlitz on
Of course that less for your retirement.
poweredbyford87 on
There ya go, take all your retirement money and blow it on a down payment to make sure you can’t retire *AND* never pay the house off in your lifetime anyway
UOLZEPHYR on
Its just a set up
Sashalaska on
I don’t understand, your 401k now ownes a percentage of your home?
Yourprobablyaclown69 on
Can’t you already do this up to 50k? You just had to pay it back
Mo_Tzu on
Personally I was hoping to open a 401Trump. You put post-tax dollars in, taxed when it comes out, along with a 10% penalty going directly to the Trump reelection campaign.
Chance-Ebb384 on
Am I missing something, couldn’t you already do this before?
butmomno on
How do you put your house (as an asset) in a 401k?!?!?!?!?
itemluminouswadison on
hey man, whatever it takes to further inflate homeowners’ paper asset prices to help them sleep at night
40 Comments
sweet ! this coupled with a 100 year mortgage will set me up nicely for the future
It’s already been that way forever.
It’s always smart to borrow against your future income … /s
The proposal is only $10k which only helps people in ohio. This is a nothingburger
Lmao the admission that this economic system is so destroyed that we’re now being encouraged to mortgage the futures we were promised with 401ks to pay for things now. Jfc.
But will I be able to wager my home equity on crypto or world cup first half over/unders?
I hate this guy.
I know I’m making minimum wage for my 60 years of life, can I get a cash advance of that right now? 😂😉
Yo can I get my own private jet too? I’ll pay it back in 1K years, I promise
You could already tap into 401k….
Not really a solution to anything since those that need it most are unlikely to have significant savings in 401k. The economy at this point really works only for the top 10%
You can already take out a loan from 401k for “first time homebuyer” (which means 1st time in last 5 years IIRC) without penalty as long as you pay it back.
Colin Robinson, is that you?
Retroactively would be sweet
Is he really that stupid? Also, is that her normal voice?
So people with a 50 year mortgage and no retirement savings. Nobody can afford to retire, jobs will stagnate as older workers won’t leave unless laid off so I guess that’s how they expect to cover the low wage jobs formerly covered by undocumented workers. Ok I see the big picture now.
What’s the problem? I’m allowed utilize my IRA for this type of investment. Seems people are just looking for reason to be unhappy
You could already do that
worse IDEA ever
There’s a niche amount of high-income young earners who struggle with deciding between putting their savings in mega-backdoor Roth 401K contributions OR waiting for a down payment on a house. Now they won’t have to worry and can do either, hooray!
Quick! How can we shovel lots of other people’s money into the economy and make the GDP line go up?
No one has mentioned his suggestion to “take 10% equity of your home and put it in the 401k”, and that somehow grows in value as your home increases in value, making you even more money than the hit you took.. What?
this was already allowed with the stipulation that you had to be a first time homebuyer. now sounds like it doesn’t have to be your first home
All this crazyness, $200B mortgage buy, this nonsense, all just to keep the housing bubble rolling past the election because Trump doesn’t want to get impeached if Democrats win the House.
So when you’re ready to retire all you have to do is sell your house. Cool. So more old people becoming homeless.
They are going to “let us” sonofabitching shitstains.
Like, people who are work 4 jobs have 401Ks!
You are already allowed to borrow from your 401k for a down payment on your house. I did it 10 years ago
All my homies got them 401k’s. Ain’t no thing.
Canada allows this. You have to pay it back over 15 years I think.
Of course that less for your retirement.
There ya go, take all your retirement money and blow it on a down payment to make sure you can’t retire *AND* never pay the house off in your lifetime anyway
Its just a set up
I don’t understand, your 401k now ownes a percentage of your home?
Can’t you already do this up to 50k? You just had to pay it back
Personally I was hoping to open a 401Trump. You put post-tax dollars in, taxed when it comes out, along with a 10% penalty going directly to the Trump reelection campaign.
Am I missing something, couldn’t you already do this before?
How do you put your house (as an asset) in a 401k?!?!?!?!?
hey man, whatever it takes to further inflate homeowners’ paper asset prices to help them sleep at night
70 year AM is next but it’ll be an ARM 🤣
And housing prices will double!