Calling your post dumb isn't a personal attack. Calling you dumb would be a personal attack. I don't know enough about you to make that judgment (a little more than a few minutes ago though and we're trending in the wrong direction). Also I wasn't making an argument, I was making fun of the dumb argument you made.

Anyway, it was a stupid post. idgaf whether you like it or not. Stop posting stupid things I guess. Whether or not someone can afford 20% down (spoiler: most can't) on a house is not a measure of that house's affordability. No one who knows anything about mortgages truly thinks this. hth

Millions of people that have little to no equity and hardly any skin in the game that haven't demonstrated any ability to save money, sounds fantastic. Of course they should be charged more to cover this risk that the American taxpayer is taking on these mortgages.

I don't believe that just because someone can make the payments under ideal circumstances (no job loss, no emergency, market keeps going up so they aren't underwater if they want to sell and move, etc) necessarily means they can afford it.

If we (collectively as a society) decide that we want to make these loans anyway, I am ok with that - as long as there is something in place where this high(er) risk group of people are spreading that risk through actuarially sustainable MIP premiums. Instead, it seems these very same people that want their house right away (instead of waiting 2-3 years, why is that so bad Kerowo?), but get outraged that they will be charged more for the privilege.

Your post just reads as "LETS KEEP THEM IN CHAINS"

Holy ****, this whole sub-forum is just a circle jerk isn't it.

No. You're posts are dumb like Namath said.

"Lets charge people more who can least afford it...." is the exactly what you just posted.

LMAO, holy ****, guess there is no point. People like you are the reason Trump is President now, which is a travesty.

p.s. Your (not you're) post is barely readable, but my posts are dumb... good stuff. Guess all the super successful people on forums such as Bogleheads are dumb too in your opinion?

That is a strawman. Something you complained about earlier.

Not one argument has been made by anyone besides me, unless you count SJW complaining to be an argument. Clearly there is no point, I'm out (which is what you all want anyways, a place to circle jerk and feel important).

Your arguments are dumb. There's nothing much to argue.

Wanting to charge people who least can afford added expenditures. Have you ever wondered why poor people cannot save money?

Or are you one of those people who think they all eat Lobster with their EBT cards, and party 24/7?

You're right guys I guess down payments are totally unnecessary. Let's just loan $200k or whatever to anyone who has a job and can afford the payments. I mean what could go wrong? Housing only goes up in value so the bank can't possibly ever lose on this amazing deal, when they loan the money at the amazingly high rate of 4% or whatever.

Kato is dead-on, in case you can't detect my sarcasm.

If you don't have 20% to buy a house, then you have some options:
1) Save the 20%, or
2) Pay for PMI because you are a higher risk to the mortgage lender, with whatever fees go with it.

By they way, you all might also note that 20% down payments are not excessive or unusual.

Asking for a down payment is racis and hurts minorities!

Bump

I just want to contribute to say that I agree with Kato in both supporting a substantial down payment for riskier loans, and that this place is a total left-wing circle jerk where people just shout down ideas that don't align with their SJW talking points. I almost never come to this forum anymore because it's almost entirely clones making snide comments and calling any argument that threatens their liberal ethos dumb. Paul D, you sound like a clueless punk high schooler in this thread. Try posting thoughtful content.

+1

Why do people keep thinking posters in this forum are posting as if theyre trying to attract outside business or something? No one in this forum cares if someone outside it shows up or not. They just post their thoughts. Politics got created to isolate politics from the rest of the forum, not as some traveling carnival show to attract business.

Let's make only white people put down payments on homes because they're privileged. That's social justice

Wait? Lol thoughtful content? All you have said is you agree with Kato (circle jerking). Whined about SJWs like a dullard. Provided no actual content. Hypocrite.

No one is shouting down your ideas. Only a dimwit would suggest you're being shouted down.

You guys need a safe space with all the whining you're doing.

I don't fully agree with your other posts in the thread, but this one is spot on.

itt KatoKrazy makes a reasonable, well thought out argument, other side shoots back with no that's bad becuz trump.

No. A reasonable well thought out argument is... https://www.youtube.com/watch?v=Yh6r3I821ng or actual academic research. Kato just regurgitated something he heard he thought made sense.

And congrats on circle jerking with your bros rtd353 lol

is that like how the thread would be better without you in it?

Obviously not. There are people who disagree with you here. You seem unfamiliar with that.

Of course. Search "circle jerk" in this sub forum or "Echo Chamber" and you'll see it mentioned plenty. The only time I've seen the circle jerk interrupted was a few days during the elections when the reality began to sink in that Hilary wasn't a deadlock to win it. Shortly after that though the lotion was picked back up and passed around the circle like a baton to continue the jerkage.

Lol. JC.

The FHA MIP reserves are higher than they need to be, so they wanted to lower the premiums a little to help people afford the American Dream