Remember when Democrats crashed the economy in 2008 by leaning on banks to provide home loans based on race rather than ability to pay the mortgage via the Community Reinvestment Act? California is updating the policy, now that illegal aliens have superseded blacks:

Assemblymember Joaquin Arambula (D-Fresno) introduced Assembly Bill 1840 last month to expand the eligibility requirement for a state loan program to clarify that loans for first-time buyers are available to undocumented immigrants.

The California Dream for All Shared Appreciation Loans program that launched last March by the California Housing Finance Agency offered qualified first-time home buyers with a loan worth up to 20% of the purchase price of a house or condominium. The loans don’t accrue interest or require monthly payments.

The same rhetoric that caused the subprime mortgage crisis remains in vogue among liberals:

“Homeownership has historically been the primary means of accumulating generational wealth in the United States,” [Arambula] said. “The social and economic benefits of homeownership should be available to everyone.”

At everyone else’s expense.

Gasps Not the Bee:

Like, they’re already giving illegal immigrants “free” healthcare, and along with that, free “gender-affirming care,” and now they’re giving us this.

Illegal immigrants will be offered zero interest, zero monthly payment mortgages equal to 20% of the home or condo’s value. And they only have to pay off the loan when the house is sold or refinanced. And who knows if they’ll be gone to another sanctuary city by then!

California was part of America once. Ronald Reagan was the governor. Liberals fundamentally transformed the state through mass immigration. Now the Americans who still live there subsist as tax slaves to the preferred identity groups that keep leftists in power. The Biden Regime has been committing treason to apply the same strategy to the country as a whole.

On tips from Wiggins and Mr. Freemarket.

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