Time machine? Sadly, no.
The news reported recently that Fannie Mae and Freddie Mac plan to offer programs to allow young home buyers to buy a home with as little as 3% down to make it easier to buy a home.
Hmm…I thought for sure this was a headline from 1995, but no. It’s from December 2014.
Do they not remember how this ended last time?
Why not start a program that teaches financially responsible behavior young home buyers can use to save up a sizable down payment so they can truly be homeowners and not just renters with a deed.
I know why. That doesn't sound as good.
This commentary was originally posted to the excellent blog Our Dinner Table by our guest contributor Seth. It's like all of his contributions; on point and to the point.