February 7, 2007
Home buyers going deeper into debt with zero-down mortgages
“There could be trouble ahead in California’s housing market as buyers are going deeper into debt while sellers are seeing less profit, according to a survey. More than 21 percent of buyers last year took out zero-down-payment mortgages, soaring from just 4.5 percent in 2000, according to the California Association of Realtors, the industry’s trade group.”
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