So, with the worst housing crises in memory, do you think the government got the message? Below is a news item from June 2010 that answers this question:
Democrats Vote Down 5 Percent Rule … In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn) proposed that borrowers be required to make a 5% down payment in order to qualify. His proposal was rejected 57-42 on a party-line vote because, as Senator Chris Dodd (D-Conn) explained, “passage of such a requirement would restrict home ownership to only those who can afford it.â€
There is nothing more illustrative and instructive than a liberal in their own works (when they are not mouthing the words on a teleprompter written by a handler)
Thanks for the post. Loved it!
Isn’t that the way it should be???