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balor123
Joined: 08 Mar 2008 Posts: 1204
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Renting in Mass
Joined: 26 Jun 2008 Posts: 381 Location: In a house I bought in December 2011
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Posted: Fri Feb 04, 2011 5:37 pm GMT Post subject: |
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Quote: | banks that cut mortgages that don't include these hefty down payments will retain some of the risk on their books |
Banks are only a tiny sliver of the mortgage market right now. If Fannie, Freddie, and the FHA started mandating 30 percent down, that would be something to behold. |
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Kaidran
Joined: 17 Mar 2010 Posts: 289
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Posted: Fri Feb 04, 2011 6:43 pm GMT Post subject: |
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It is a nice idea but far too politically toxic to be properly implemented. At best it would be slowly raised over decades and probably repealed when it started to bite. It seems most people want some form of government fiscal responsibility, except when it actually applies to them. |
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