The fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…
I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.
The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)
There is a time when buying makes sense, but it’s still not that time in most areas of SD.
I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.
