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Politics : View from the Center and Left
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To: slacker711 who wrote (125611)11/26/2009 11:24:49 AM
From: slacker711  Read Replies (1) of 543205
 
One other thoughts on the FHA. After the crisis last winter, I made comments to the effect that new regulations really werent going to make much difference in the housing market. The reason was that after losing hundreds of billions of dollars that investors werent going to be willing to lend on the same kind of terms. The regulations would be fine, but really the market itself would take care of much of the problem...they would find new ways to lose money <g>.

I was sort of right. Private investors have abandoned the low down payment loans....however, I didnt forsee the government stepping in to the void. The FHA has gone from 3% of all loans in '06 to 30% today. That might be ok if they were requiring 20% down, but with only 3%, this is an absolute disaster waiting to happen.

Again.

Slacker
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