Not just any new home. A 5000 sf home. That’s cheeky.
BTW, has congress passed any new laws making these 0% down, interest only mortgages at the borrowers sole risk? Didn’t hear about it if they did.
There’s a whole lot of 5000 sq. ft. houses out there. A whole lot more than there are families of ten to live in them.
they’re just not making those loans anymore. Can’t see stupidity being outlawed however. This is Darwinism in action and regardless of how much money is thrown at the problem it will continue to play its way out.