John Oliver Explains Why PACE Is Probably a Bad Way to Finance Your Home Improvements

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“If you’re under the age of 35, let me quickly clear up your confusion here: A ‘homeowner’ is a person who owns their home.”

. This week, however, the show’s appeal was a little more selective, focusing instead on PACE, or Property Assessed Clean Energy programs, a dubious way of financing energy-efficient and environmentally friendly home improvements that can easily send homeowners into dire financial straits. In one sense, this is classicterritory: A program ostensibly designed to benefit the public has instead been coopted by scammers and flimflam artists.

Like your parents! You know how your parents live in a house, but they don’t have a landlord, and they don’t have to sign a lease and they don’t pay a security deposit? It’s like that. It’shouse! Don’t worry, though, that will never be you. You’re not allowed to do that. America decided a few years back that if you were born after 1985, you don’t get to own a house.

 

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