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To end poverty we need a gov that does not lie when it says it supports affordable housing for people. Affordable housing does not mean a 0% down FHA loan on a
by JSig 16y ago
To end poverty we need a gov that does not lie when it says it supports affordable housing for people.
Affordable housing does not mean a 0% down FHA loan on an overpriced home costing the person 2/3 monthly income with some jacked ARM.
Affordable housing is to quit jacking with MBS and let housing fall to its proper market prices at which point it becomes affordable and buyers come in.
People need to understand that renting is just fine and home ownership is NOT for everyone.
It's fairly obvious that gov action in regards to home ownership has impoverished many people this past decade while making a killing for the banking elite. This trend continues to this day.