The Instigator
Smooosh
Pro (for)
The Contender
Im_Intelligent
Con (against)

People who get home loans are welfare babies!!!!

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Voting Style: Open Point System: 7 Point
Started: 7/15/2018 Category: Politics
Updated: 3 years ago Status: Debating Period
Viewed: 381 times Debate No: 116580
Debate Rounds (3)
Comments (0)
Votes (0)

 

Smooosh

Pro

If you can't afford to buy a house outright, then you don't deserve to own one. Home loans are a form of legal theft. The US taxpayers should not have to be forced to pay for your house. We shouldn't have to pay for your urban sprawl. End subsidies for wealthy wannabes!!!!!
Im_Intelligent

Con

I would definitely agree with pro if it was not for a few things.

its a LOAN, which means you end up paying mortgage until you pay back said loan, so no its not theft, and people are not getting away with paying back said loan, and if you fail to pay this back the bank can literally take the house back.

Secondly do you have any idea how hard it is to save up enough money for a decent house while paying rent? some places in the united states charge as much as $1300.00/month just for rent alone.

So no, people who get home loans are not welfare babies.
Debate Round No. 1
Smooosh

Pro

Privately owned banks do not make home loans on their own, it is not profitable to tie up hundreds of thousands of dollars for thirty years, only to get back chump change. The US government (US taxpayers) insures home loans to promote home ownership. When you receive a home loan, the federal government steps in and gives the bank the amount of your loan so the bank still has the equity to continue making other loans, but the federal government leaves the bank liable if the loan is not paid. The federal government makes the money to pay for the loans by selling bonds. China owns the largest percent of US bonds owned by any foreign entity. The US federal government owns the largest percent. Britain and Brazil are next in line after China, as far as foreign ownership goes. Owning US bonds actually means you own American debt. The American debt to China is directly linked to (most) American home loans. The American taxpayers are on the hook for that debt. People who've gotten home loans through the "Finney Mea", "Fannie Mae", and "Freddie Mac"programs have caused American debt to go up, and the taxpayers do not get that money back! So ya, people who get home loans are welfare babies!!

I'd like to thank my opponent for accepting this challenge by the way. Good luck!
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Debate Round No. 2
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Debate Round No. 3
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