[quote=SD Realtor]I cannot think of a better way to achieve a stronger overall market. This of course will add to imbalances with regards to investor owned properties and such. However in all honesty, (and CAR I know you will not like this) owning a home is not a right. We allo know the pendulum was going to need to swing hard in the other direction and if we had standards like this to begin with, it would have been helpful. Reducing the FHA footprint is a great idea. Hopefully we will see prices adjust but it will not happen overnight. The rubber band does not just snapback immediately.[/quote]
Of course, I DO agree with the bolded part of your statement.
Outside of a very limited public housing program, like I’ve mentioned above (so small, you can hardly see it), we are in 100% agreement about the rest of the market.
