copperpenny

The Right Way to Encourage Home Ownership

Encouraging home ownership as a matter of course contributed to this mess. Bankers; mortgage and otherwise didn't use solid criteria in determining credit worthiness or amount of credit granted. What about lease to own with a portion of the rent being held for a down payment at a predetermined price. What about getting owners of property to finance the sale and being responsible to do the research in determining risk of the loan. On the other hand renting is not all bad. It is only since the end of WWII that homeownership has become so common place. The cost of housing to income has been way out of wack for many years now. Tax policy coupled with easy money fueled this bubble. Though your desire to make home ownership available to many is admirable it is tuff to get your head around how to this with out causing negative consequences.