Reply #27: That's why FHA was put in place for truly qualified first timers [View All]

[SoCalDem]

and why people used to be well into their 30's before they quit renting.. Oftentimes, they had had all the children they wanted by then, so they knew what size house they needed, and would not be having to sell every time they had a baby, and if their kids were well into adolescence by the time they bought that house, even if it was a bit tight for a few years, as the kids moved out in 5-10 years, the house "got bigger".:)

Home ownership used to be to have a place to raise your kids, launch them, and then have a paid off home for your golden years.. People who moved a lot, or who had shitty, transient jobs rented because they knew better than to take on a 30 year commitment.../. and loan committees at banks knew better than to loan that amount of money to someone who may not be able to pay them back.