Posted on 06/11/2015 1:05:36 PM PDT by Cincinatus' Wife
Just making people who are not responsible enough to save up a down payment into homeowners can mean a new Detroit or Newark in a decade or two.
I’ve seen plenty of houses trashed in Florida by “homeowners” without a true stake in the property after the Bush boom.
Perhaps the Islamic partial purchase method where people buy about 3% a year and rent the remaining 97% (and 94%, 91%etc.) could be used instead. The Islamic gradual purchase method totally prevents people from getting underwater. I believe it is sometimes used in Britain.
If only there was something the government could do to force lenders to sell houses to people with no down payment or provable income.
I wouldn’t be surprised if it’s not already happening.
I’ve posted ad nauseum that as long as Americans won’t have children our overlords will simply import them from elsewhere; there is no way our massive bureaucracy will simply accept layoffs and look for work in the bleak private sector. They are moving millions here to simply keep neighborhoods occupied, schools filled, and store aisles humming. Work isn’t even in the equation at this point...
People build (and rebuild) nations; after Obama’s re-election in 2012, I’m convinced there aren’t enough Americans left to do this. Romney lost because he was a wealthy white straight man; to many in this country that is cause for revulsion.
Keep a close eye on the emerging crop of new, fresh face conservatives.
This has nothing to do with housing and everything to do with propping up housing prices.
From your lips to God’s ears.
Some groups that see themselves as alternatives to Habitat for Humanity.
Instead of building a $50,000 house, $5,000 moves ten families into houses that might otherwise be vacant or rentals.
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