DeLaney offers amendment to support first-time homebuyers

Today, Feb. 19, State Rep. Ed DeLaney (D-Indianapolis) offered an amendment to the state budget that would require the state treasurer to establish a first-time homebuyer loan program. The amendment was defeated by a vote of 29-67. 

DeLaney released the following statement following the defeat of his amendment on the House floor: 

“I am troubled by the fact that we have made it halfway through session without addressing the barrier our young people face to homeownership. The average age of a first-time homebuyer in this nation is reported to be 38. That is unacceptable. 

“Nobody loses from investing in young people. By offering reduced-interest loans for first-time homebuyers, we would make our state more attractive for young families. In turn, this will boost our workforce, economy and property tax base. 

“The bottom line is that the market is failing young families trying to settle down and build generational equity. If we cannot act to provide a backstop when the markets don’t work, then why are we here?”