patrick.net

I think most rational people would agree that the FHA is doomed. Giving someone a loan with only 3.5% down when it costs them at least 6% in real estate commissions and other fees to sell the same hose, puts them instantly under water. I only question his motivation given that he is in the business of selling homes. Maybe because he is in the business of selling luxury homes and only does 8% of his business with FHA loans. Is he afraid of the competition selling more entry level homes and gaining a leg up in the new home market? Who knows.

#housing