Crowdfunding a house - wtf?

What could possibly go wrong by helping people buy a house they can't afford? This is the stupidest thing I've read today.

https://www.cnbc.com/2017/10/05/a-new-way-to-buy-a-home-crowdfunding-the-down-payment.html

I hope CMG Financial goes out of business. And their dog barfs on the living room floor.

I can't even believe that's a real thing. Amazing.

Hey, I can't actually WORK and SAVE for a downpayment. I have huge school loans because I went to Cancun over spring break, partied every weekend, went to the beach all summer, did a semester in Europe, and never worked while in college to help pay for it. I just borrowed all the money. And now they actually want me to pay it back. Can you believe that?!
So just shut up and fund me for a down payment, will ya.

What a time to be alive!!!

The new safety net is just everybody pre-emptively sets up a gofundme for all future expenses.

I think it was my dad who told me: there’s more to owning a house than being able to afford it.

witch hobble wrote

 

I think it was my dad who told me: there’s more to owning a house than being able to afford it.

LMAO!!! My Dad told me the same thing

There's a universe that separates crowd funding from micro loans.