What wiould happen if everyone had to have 20% down to buy a house?

What would happen if everyone had to have 20% down to buy a house?

Many agents are thinking about this I'm sure, since NAR is sending out emails encouraging Realtors to contact their representatives and moan about how this would harm the industry.

I don't think the govt. will ever get out of the housing subsidy business. I gives them too much control over housing, and too much control over lenders.

But, just pretend for a moment that the U.S. homebuyer was savvy enough to realize the importance of sound financial management. Everyone worked out a budget, paid the bills on time, and saved for a downpayment on a house. They also put aside money for a rainy day, and for the children they planned to have.

Although it hurts sometimes to make the right financial decisions, in the long run, it serves to make a family stronger.

For too long, too many of our citizens have spent money foolishly, and have lost homes they really were not able to afford. Our government put in place the policies that allowed lenders to make loans to people to buy these homes.

Although the easy money, buy here pay here, finance it for life people would be hurt, maybe the country would become stronger if financial responsiblilty and economic common sense became the norm for everyone.