Saturday, February 5, 2011

Down Payment Blues (Musical Tribute)

February 1, 2011
Major Lender Pushes for 30 Percent Down on Home Loans

Critics of the proposal insist that these hefty down payments, for which buyers may have to “scrimp and save for years,” could shrink the pool of eligible homebuyers right out of existence or push prices so low that the market will never recover.



I got holes in my shoes
(And I'm way over due)
Down payment blues

4 comments:

getyourselfconnected said...

30% down? Never gonna happen.

Stagflationary Mark said...

GYSC,

Hahaha!

I hear you. We'll probably just get rid of credit entirely and force homeowners to pay cash. ;)

Troy said...

holy crap.

god forbid if a bank has to hold a 5% first-loss "equity piece".

(I see my collection of AC/DC mp3s is seriously challenged.)

One thing we need to do in this country though is liquidate the renting of SFH and condos.

Tightening lending but leaving the field open to these parasitical vampire suckers is f-ed up.

Stagflationary Mark said...

Troy,

god forbid if a bank has to hold a 5% first-loss "equity piece".

It would be awful! Banks shouldn't be exposed to any risk. It should all be concentrated on the US Taxpayer. *sarcasm*

(I see my collection of AC/DC mp3s is seriously challenged.)

I never seem to tire of AC/DC. I was listening to them when I was 16 and was driving my first car (a hand me down Volare).

I had to commute 30 miles each way one summer in high school to take a summer class at a university. This was the only tape I listened to. It just endlessly looped in my car. I couldn't afford much more. I'm STILL not tired of it, lol.