Skip to content

February 7, 2011

2

Restrict Home Ownership to Only Those who can Afford it

by Bob Schwartz

home ownershipSo, with the worst housing crises in memory, do you think the government got the message?  Below is a news item from June 2010 that answers this question:

Democrats Vote Down 5 Percent Rule … In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn) proposed that borrowers be required to make a 5% down payment in order to qualify. His proposal was rejected 57-42 on a party-line vote because, as Senator Chris Dodd (D-Conn) explained, “passage of such a requirement would restrict home ownership to only those who can afford it.”

San Diego defense attorney

If you enjoyed this post, make sure you subscribe to my RSS feed!
Read more from Real Estate
, ,
2 Comments
  1. Barney Franklin III
    Feb 9 2011

    There is nothing more illustrative and instructive than a liberal in their own works (when they are not mouthing the words on a teleprompter written by a handler)

    Thanks for the post. Loved it!

  2. Beba
    Feb 15 2011

    Isn’t that the way it should be???

Comments are closed.