Quote:
Originally Posted by Namath12
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.