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Joined: 14 Jul 2007 Posts: 0 Location: Greater Boston
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AgentGrn
Joined: 28 Sep 2006 Posts: 82
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Posted: Wed Oct 24, 2007 7:21 pm GMT Post subject: |
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Imagine that ... encourage everyone to be dependent on credit, never saving a nickel ... and then see things turn around.
A good down payment has always been a bitch to save up for. From what I've gathered from my parents and their elders before them, having that money to put down on the first house was nothing short of a well-earned victory. No wonder they savored their new residences.
Make no mistake, I appreciate the opportunity that leverage can offer if risk is properly managed ... but like the rest of the credit system, it seems like people were encourage to take every last drop they could get. I'm glad things are returning closer to the point where you need to earn it and pay your dues. |
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