patrick.net

Interesting quote from article.

"Also, the National Association of Realtors said last week that the median down payment has sunk to 9% for home buyers this year, its lowest level since 2009. "

We are in for a good ass kicking in our future. You can bet on it. The average buyer this year has only 3% equity after you take away the 6% realtor fees. That can be whipped out pretty quick in this market and make them unable to sell like the other half of mortgage owners. Greed kills markets. We are not done the stupidity yet folks. As the quote above attests, we are back at it.