Not gonna work unless Dodd-Frank is changed, and that’s not going away any time soon. Debt-to-income is basically set in stone. Even the move to 3% down payments is a bit of a sham, since (a) they existed before 2013 anyway, and (b) down payment is limited by debt-to-income and appraisal for most people.
Interesting fact: 6927 Amherst #16 sold for $240,000 in late 2014. The unit I posted is sitting at $237,000 for much longer. They might be lucky to get $200,000 or $220,000. Seems that there might be a bit less demand for any junk that comes onto the market this year vs last. Funny, that.
There was a brief period in 2013-2014 where one could find a buyer for any turd that was thrown onto the market at an insane price. This period has passed and the herd has stopped stampeding.
