Taking out a mortgage with a small down-payment is taking out a bet that your income stream will be uninterrupted, and be increasing (to keep up with inflation) for the life of the loan.
For the last 20 years, incomes have been dropping, and in the last 7 years, jobs have been vanishing faster than new jobs are created.
But, a real estate neighbor of mine says 5% or less downstroke can get you in that dream house today!
And you know Wrench, that’s why we know Economic Collapse II is around the corner.
Everything is being done to collapse the economy. We can’t support this nation if nobody is working.
Sure they can give out loans, but too few people will be paying them back.