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re: WSJ: Wall Street Has Spent Billions Buying Homes. A Crackdown Is Looming.
Posted on 4/29/24 at 10:26 am to Chicken
Posted on 4/29/24 at 10:26 am to Chicken
quote:I may be wrong, but aren't there federally backed HUD loans for first time buyers that only require a 5% down payment?
renting doesn't make you have to come up with a 20% down payment...the problem with many wanna-be first time buyers, unless they are getting help from family, will have trouble coming up with the down payment, even if homes cost significantly less than now.
2
Posted on 4/29/24 at 10:59 am to North Dallas Tiger
Blessed to be able to say my family and I are in a comfortable situation, but I do have a family member who is about to pay over asking price on a home that's doubled in appraisal value in five years - ludicrous.
It appears to me there is a fundamental conflict of interests between those who have enjoyed massive boosts in home equity and those trying to enter the homeownership market.
So if this legislation becomes a reality, it's bad for the former group's pocketbooks but benefits the latter group.
It appears to me there is a fundamental conflict of interests between those who have enjoyed massive boosts in home equity and those trying to enter the homeownership market.
So if this legislation becomes a reality, it's bad for the former group's pocketbooks but benefits the latter group.
Posted on 4/29/24 at 11:03 am to North Dallas Tiger
Yeah, FHA loans are 3.5% down last I looked.
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