In 1960, to get a 15k mortgage, it often took more than one financial institution to do it, on TOP of the 20 percent down.<quoted text>Where the fk did you come up with that equation? 1954 when new homes cost $15,000 and the married white buyers actually went into the savings and loans for interviews?
If Donald Trump had to come up with 20% down__or any developer, nothing would get built or sold.
Of course, that's back when people still realized, paying such things as mortgages and bills, came before any and EVERYTHING else, and bankruptsies etc were big black marks on any future credit.
Worked pretty well--then came libuhrulTICS, and NOW look at this nation of unpaid DEBT-DEBT-DEBT.