Comments by "Crime Stoppers" (@crimestoppers1877) on "Housing Market 2nd Worst Post WWII" video.

  1. I agree with most of what you say EXCEPT the following: I see the same fake attempt to bring in First time home buyers with more tricky gimmicks like "Down Payment Assistance" scams. It is the FHA, GSE's ( Fannie Mae and Ginnie Mae) and sketch financing gimmicks like ARM's that poured gasoline on the house buying frenzy from 1998-2008. Today I see the same things happening in the market. Some Estate Agents hungry for a sale will try to induce unqualified buyers to buy today. In today's market with uncertainty about the economy, jobs and political situation this may be the worst time for a minimally qualified buyer to get into the market. During the early 2000,s in my area agents were talking anyone with a pulse ( including the homeless) to buy buy buy, even though it is ludicrous to believe that a part time minimum wage employee using an ALT-A loan could actually pay $1500/month + property taxes and insurance each month. I see it in all local RE advertising. NO DOWN PAYMENT with government subsidized " Down Payment Assistance". Workers in high paid High technology jobs don't even know if they will have a job in three months. I see the solution is to bring back the 80/20 rule of conventional mortgages. Why should investors in mortgage companies take risk when the GSE's pretend to work? Buyers MUST Have skin in the game or we will see the same problems of the last RE bubble.
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  2. You know I speak the truth.
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