41% have no downpayments
Business – Homebuyers ditching the down payment – sacbee.com
The Realtors group also says that 41 percent of first-time homebuyers in the state have abandoned the notion of putting their own money into the deal. Nationally, percentages are even higher.Nearly 30 percent of buyers and 45 percent of first-time buyers no longer make down payments, says the National Association of Realtors.
“Frankly, I didn’t realize it was that easy to do,” says Doug Self, who used 100 percent financing last year to buy a house in Citrus Heights.
Well all the cool kids are doing it
February 24th, 2007 at 6:09 pm
Is no downpayment the new paradigm?
February 24th, 2007 at 9:14 pm
“Is no downpayment the new paradigm?”
Indeed it is. Much like the fabled “new economy” of 1999.
February 25th, 2007 at 9:48 am
Oh, jingle mail, jingle mail
Jingle all the way
Oh, what fun it is to ride past the bank on the way out of town….