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<blockquote data-quote="BadIdeaGuy" data-source="post: 4974913" data-attributes="member: 73381">You don&#039;t know what you are talking about.FHA loans require 3.5% down.Let&#039;s take me as an example. I make OK money as a part time employee. But not fantastic money, at all.All I have to do is put $8,000 down.And the government will lend me over a quarter million dollars.Now, I have no business doing that.I can&#039;t afford that. And even if I could, it would be a stupid, stupid idea.But the government will give me that money to play with.Since everyone can just get these magical almost no interest rate highly leveraged loans, most anyone can buy without even trying.And that means that people will start charging more.The government is fronting them the money, so they don&#039;t care as much.If everyone had to pay cash for houses, we&#039;d have a REAL capitalist system going, and you&#039;d see much more reasonable prices.</blockquote>

[QUOTE="BadIdeaGuy, post: 4974913, member: 73381"] You don't know what you are talking about. FHA loans require 3.5% down. Let's take me as an example. I make OK money as a part time employee. But not fantastic money, at all. All I have to do is put $8,000 down. And the government will lend me over a quarter million dollars. Now, I have no business doing that. I can't afford that. And even if I could, it would be a stupid, stupid idea. But the government will give me that money to play with. Since everyone can just get these magical almost no interest rate highly leveraged loans, most anyone can buy without even trying. And that means that people will start charging more. The government is fronting them the money, so they don't care as much. If everyone had to pay cash for houses, we'd have a REAL capitalist system going, and you'd see much more reasonable prices. [/QUOTE]

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