Quote:
Originally Posted by amorak
With a 20% down payment requirement, I am willing to bet 25% of the market will disappear instantly - That is, 1/4 of the people actively looking at buying a $600,000 home will no longer be able to afford it.
|
Just out of curiosity, where are you getting that 20% down is mandatory? 20% is only applicable to rental property. You will still be able to get a 95% loan to value on a residence. This is going to have a negligible effect, people will always find a loophole, subprime lenders will find a way to bend.