The FHA head said the proposal is a “complete game changer.” Yeah right.
Complete Game Changer – Not
People are already in trouble because they do not understand property taxes or maintenance.
50-Year mortgages won’t help with the down payment. For many, that is a huge obstacle.
Home prices are starting to decline. Anyone who needs to sell their home within a few years would be upside down. We don’t nee more people trapped in their homes.
Prices need to fall and fall dramatically. To the extent the product would create demand, it would help keep prices higher.
The average age of the first-time home buyer is over 30. Congrats. They would own their…
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