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IS REAL ESTATE BECOMING HOT AGAIN?
Housing becoming hot, again? By Froma Harrop Richmond RegisterApril 17, 2013, 12:50:04 AM EDT Another housing boom? N-o-o-o!
Housing starts are now inching up. Mortgages are easier to obtain. Even the “piggyback loan” has returned. That lets you take two mortgages at the same time and get around having to buy mortgage insurance when borrowing more than 80 percent of a home’s value.
“Housing Is Back!” hollers the cover of Money magazine.
And time to lock up friends and relatives with short memories. While we’re at it, let’s lock up the government and its compulsion to push homeownership.
Note that Fannie Mae and Freddie Mac still subsidize the financial industry with taxpayer-backed guarantees on mortgages – in the name of turning more Americans into homebuyers, of course. The housing meltdown exposed their systemic flaws, leaving you-know-who to bail them out.
Last year, the liberal-leaning Urban Institute came out with a truly awful plan to help struggling young people buy a home. It would expand the federal government’s Housing Choice voucher program to include homebuyers.
  OMG.
Housing Choice now gives low-income people vouchers to help them pay rent. It’s a good program. But handing out vouchers to buy homes?
The Urban ... more

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