Seriously, does everyone on the planet need to own a home ?
It appears QRM is too much for most would be home owners and the banks do not want to take any risk. Not even 5%.
Let’s face it; 20% is reasonable for a very large purchase. Do you really think anything less is a good idea ? It will only lead to trouble so why not keep the rule. Your never going to make the housing mess go away until society tightens its belt and until wages go higher.
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Agreud. However, I personally know more than a dozen residential real estate brokers who would be all for going back to 0% down – they had sweet commissions suckering folks who had no business buying a home with lines like “you are just throwing your money away paying rent” and “no money down and you can invest what you would use for your down payment in the stock market”.