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Watch the bubble as it is refilled with tax payer dollars. "Down payments as low as 3.5% of the purchase price." "FHA insures the mortgage...." And away we go.
they recently tightened those a bit
Years later, condos still go begging: https://malcolmcarter.wordpress.com/2012/06/13/condos-still-unsold-after-solaria-auction-debacle/