No, I am not a potential first time home buyer, but as home ownership is a foundation of our economy and I am not ignorant of the difficulties of getting a first mortgage for acquaintances, I see the utility of this proposal to improve the economy.
@Kathryn just complained about the tax structure, but it is set up to encourage growth in the economy, This is another step. now you could argue that it might not be a great idea in the long run, but your characterization speaks more to your ignorance than anything else.