Wednesday, June 19, 2013

On the FHA Still Offering Loans With Only a 3% Down Payment

Have not these imbeciles in Washington learned anything? Unless a person puts a substantial down-payment into his or her purchase, there is literally zero incentive for a person not to walk away from it (yeah, their credit rating will probably be effected but a lot of these idiots simply don't give a rat's ass). Couple that with the ridiculously idiotic policy that's been coming out of the FED (preposterously low interest rates, a tripling of the monetary base, etc.) for a decade or so and it really ISN'T surprising the fact that the recovery has so anemic (thank the good Lord for the energy sector).

4 comments:

  1. Backing up a little bit, there is absolutely no need for an FHA, or Freddie and Fannie for that matter. Agree?

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  2. 100% (and it isn't even addressed in Dodd-Frank).

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  3. How long did the Roman Empire last? 1000 years? We will never make it.

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  4. Our only saving grace is that Europe is tumbling down the rat-hole at an even faster rate than we are.

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