Cohousing-L Mailing List: Re: Home Purchasing Credits

[Liz Ryan Cole (lizryancole]

Without raising the daemon of party politics, I believe that the housing 
debacle was not the result of people making only small or no down payments 
(although some parts of the entertainment industry that pretends it is news 
would like people to believe it was their own poor money management that caused 
the crisis).  The real problem was banks making loans to people who could not 
afford the monthly payments required, and banks loaning more money than the 
asset (home) was worth.

In my experience most people get their downpayment together with help from 
family, and then pass that forward. 

liz

Liz Ryan Cole
lizryancole [at] me.com
Pinnacle Cohousing at Loch Lyme Lodge
Lyme, NH
PinnacleProject.info


On Aug 17, 2012, at 12:03 PM, joyce wrote:

> 
> Didn't we learn from debacles of the past?
> 
> On Aug 17, 2012, at 9:53 AM, Sharon Villines wrote:
> 
>> 
>> 
>> On Aug 17, 2012, at 11:44 AM, joyce <jcthorn [at] earthlink.net> wrote:
>> 
>>> 
>>> Buying a home with no down payment is irresponsible.  If you can't save 
>>> enough money for a down payment you should not take on the responsibility 
>>> of owning.
>> 
>> Well, that is certainly a biased opinion. As if everyone in the world had 
>> extra money sitting around.
>> 
>> Sharon
>> ----
>> Sharon Villines, Washington DC
>> "It is harder to be kind than clever. KIndness is a choice and hard. 
>> Cleverness is a gift and seductive." Jeff Bezos' Grandfather
>> 
>> 
>> 
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> 
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