Comment Detail
Date: 05/16/23 First Name: Greg Last Name: Hill Email: gregory.hill1@usbank.com Organization Type: fannie mae Organization: U.S. Bank Comment
With inventory as limited as it's ever been, it continues to be a seller's market. If we make the homebuying process more affordable, from a pricing standpoint, more homeowners would be more inclined to move, which creates more supply. This keeps home prices at a more affordable level, especially for the first-time homebuyer. Charging LLPA's to just about every scenario even for those with excellent credit and great down payment is not what the average consumer has worked their whole life for. We tell our youth about the responsibility of paying your bills on time and the benefits of doing so. What are we telling today's youth about the dream of homeownership? "Save your money." "Pay your bills on time." All to then say, "Sorry Johnny, the cost to borrow is going to be so much that you will exhaust your savings and not leave you any money for the future." "Hey, but you got a house!"
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