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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (761570)	1/6/2014 10:18:16 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 1574273

It's nice to finally be jumping the turd of hurdles clogging up the Senate. Janet Yellen expected to be confirmed by Senate as Fed chief Monday http://www.latimes.com/business/money/la-fi-mo-federal-reserve-janet-yellen-senate-confirmation-vote-20140106,0,2872235.story#ixzz2pdEpw3Rp

To: Brumar89 who wrote (761570)	1/6/2014 11:54:13 AM
From: FJB	2 Recommendations Recommended By Brumar89 joseffy Read Replies (1) \| Respond to of 1574273

Today, the same forces are operating. The Federal Housing Administration is requiring down payments of just 3.5 percent. Fannie and Freddie are requiring a mere 5 percent. According to the American Enterprise Institute’s National Mortgage Risk Index data set for Oct. 2013, about half of those getting mortgages to buy homes — not to refinance — put 5 percent or less down. When anyone suggests that down payments should be raised to the once traditional 10 or 20 percent, the outcry in Congress and from brokers and homebuilders is deafening. They claim that people will not be able to buy homes. What they really mean is that people won’t be able to buy expensive homes. When down payments were 10 to 20 percent before 1992, the homeownership rate was a steady 64 percent — slightly below where it is today — and the housing market was not frothy. People simply bought less expensive homes. If we expect to prevent the next crisis, we have to prevent the next bubble, and we will never do that without eliminating leverage where it counts: among home buyers. nytimes.com