Nice job, ED. Just like many of us have expected, the govt is setting up the next round of foreclosures — with taxpayers on the hook, AGAIN!
Is it just me, or does anyone else think we will not be getting out of this “housing downturn” for many, many years (decades?) to come? Until the specuvestors are washed out, and we see real, organic demand from well-qualified buyers, the housing market will continue to be weak, IMHO.
Even those supposedly stringent DTI ratios are waaaay too high for this economy. I can’t believe they’d be willing to go over those rather risky 31/43 levels. They are insane. Whatever happened to ~28/33 — and that when people had more secure jobs, a greater likelihood of better pay over time, and pensions, healthcare benefits, etc.
If anything the DTI ratio should be reduced to 15%/18% of gross income, IMHO.
