Household "Hessengeld" detail: what's the current status?
The Hesse Money program, now in its second year of operation, has been praised as a success by Hesse's Finance Minister, Minister Lorz of the CDU party. This initiative, designed to facilitate the purchase of owner-occupied residential property, has benefited over 7,000 families and individuals, helping them to buy their first homes.
Minister Lorz believes that the substantial Hesse Money subsidy, often in the range of 15,512 euros, can significantly influence the decision to buy a property, providing a boost to the housing market. The program primarily assists middle-income families with an annual household income of up to 100,000 euros.
Families with children in Hesse receive an average of 18,434 euros in Hesse Money. Over 160 million euros have been pledged so far, with recipients having already received around 11 million euros in subsidies. The funding is distributed over a duration of ten years.
The digital application process via WIBANK has been well-received by applicants. The program is seen as a regional economic stimulus or social policy measure, aimed at addressing the low homeownership rate in Germany, which is a concern.
However, not everyone agrees. The Green opposition has criticized the Hesse Money program, labeling it a 'fizzle'. Despite this, the CDU government continues to support the program, viewing it as a key step towards increasing homeownership and securing retirement for many families.
An affordable property is seen as one of the best forms of retirement security. By providing financial assistance for home purchases, the Hesse Money program aims to make the dream of homeownership more accessible for many families in Hesse.
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