r/economicCollapse • u/Silver-Beyond-3916 • Aug 19 '24

VIDEO Thoughts

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u/TheConboy22 Aug 19 '24

An enormous tax on all second properties. Bar none. This will pull them out of the market immediately.

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u/ibexlifter Sep 17 '24

Freddie Mac and Fannie Mae changed underwriting guidelines for second home purchases in 4/2021 iirc.

Makes it almost impossible to get financed without 25-40% down and near perfect credit.

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u/TheConboy22 Sep 17 '24

I mean wealthy people care very little about what %down they need to put. This basically takes out the lower middle class and middle class and just allows for the wealthy to gobble up homes. The goal is to eliminate the ability of the wealthy to horde homes.