Quote:
Originally Posted by Kavvy
Feds announcing tomorrow that mortgages >$500,000 will now need 10% down.
>$1,000,000 I think already requires 20%
Unsure if it is house value or mortgage value, I am sure someone does.
|
this makes sense (I think at first glance) but should cause the higher end homes to soften even further, correct?
As it is I assume there's less liquid cash in the market to put larger down payments, and makes it tougher to "upgrade" so less buyers = less demand... should see downward pressure on higher homes I would think.