On Fri, 09 Jan 2009 19:53:08 -0500, BAR wrote:


20% cash down. If you don't have 20% down get a second job. If you have
to wait 15 or 20 years to buy a hose then that is what you have to do.
You do not have a right to buy a house regardless what Barney Frank or
Chris Dodd have to say.

Damn conservatives, always wanting government to regulate everything. ;-)

From my seat, it wasn't the CRA or the sub-prime loans that did this
economy in. It was the stupid actions of the banks and investment houses
in their dealings with sub-prime loans. Lehman Brothers was leveraged
somewhere @ 33 to 1. That's just downright dumb.

Remember "redlining"? It was a racist, and illegal, policy of grouping
entire neighborhoods as "out-of-bounds" for loans. That was what the CRA
was intended to alleviate. What a concept, banks doing their jobs
loaning money without regards to race, religion, or gender.