Ep. 168 - The Media LOVES 2008 | Why $0 Down Mortgages Aren't a Problem
In this episode, we dissect a recent CNN article that claims zero down mortgages are a "shady financial tool" making a comeback from the 2008 housing bubble era. The media's obsession with negative housing news is leading to clickbait headlines and fear mongering. By breaking down the differences between today's regulated mortgage industry and the risky lending practices of the past, this episode debunks the myth that zero down mortgages are a sign of another impending crash. Watch this episode to learn why these mortgages are actually helping to stimulate homeownership and why the comparisons to 2008 are misguided at best.
[00:00 - 01:41] - Introduction
[01:42 - 03:17] - Media Loves Negative News
[03:18 - 05:25] - Author's Lack of Knowledge
[05:26 - 07:57] - Low Income Housing Misconceptions
[07:58 - 10:22] - Down Payment Assistance Explained
[10:23 - 13:11] - Late Cycle Market Stimulation
[13:12 - 16:25] - 2008 Comparisons Debunked
[16:26 - 20:20] - Responsible Lending Practices
CNN Article:
Key Quote:
“The reality is this, it's not 2008. No reason to chase a ghost” - Quinton Harris
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