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By Press Rundown
California’s recent passage of a bill that would grant home loans to illegal immigrants has sparked concern among experts from various fields. Civil rights attorney Leo Terrell and real estate expert Grant Cardone appeared on “Varney & Co.” to discuss the implications of the bill, with Cardone labeling it as a “gimmick” by Democrats.
The bill, known as AB 1840, was voted through the state Senate and would allow undocumented immigrants to apply for the “California Dream for All” first-time homebuyers’ financial assistance program. This program provides up to 20% of a home’s value or $150,000 as down payment assistance.
Cardone criticized the bill as a marketing ploy, suggesting that it is designed to attract voters for the upcoming 2024 election. He also pointed out that Vice President Kamala Harris has proposed a similar plan to offer down payment assistance to first-time homebuyers nationwide.
Terrell echoed Cardone’s concerns, warning that the bill could make California a “magnet” for illegal immigrants. He urged Governor Gavin Newsom to veto the bill if he wants to maintain his political career.
Overall, experts are divided on the impact of the bill. While some see it as a necessary step towards providing housing assistance to undocumented immigrants, others view it as a political maneuver with potentially negative consequences. As the debate continues, it remains to be seen how the bill will ultimately impact California’s housing market and immigration policies.
