What does the FHA mortgage Insurance cut mean?

Discuss how this is killing poor people or something. A infographic of spending on this would be the cats ass.

Preventing another housing crisis. The BB program would allow generally high risk high medium risk individuals to purchase homes with little to no down payment.

It's great it inflating the housing market and feel good polls but poor people are fucking stupid and Tend to make poor decision

>killing poor people
just Draining The Swamp

Right now houses are extremely overpriced. We are in a housing bubble due to seven years straight of historically low interest rates. The Federal Reserve made this artificial a bubble to make the Democrats look like they were making the economy better. This had to happen eventually

Mortgage insurance is when you cannot into 20% down payment. FHA gives loans to people that do not qualify, with the gov't picking up the insurance on the mortgage by insuring it through FDIC, or some other scheme.

With this blocked, those poor indigent home owners will not be able to buy the home they were told they were entitled to by the gov't education camps.

Trump has destroyed the American Dream for poor people.

>poor people are fucking stupid and Tend to make poor decision
Yeah I was just looking at FHA default rates. Seems like a high risk group.

This is good whether you or a cukservative or a libtard. Not giving houses to poor people who can't even afford the mortages to begin with will be better for us in the long run.
See this

>libtard
but they see it as racist an unfair

PEOPLE ARE FUCKING DYING

This is a great thing. As other have stated the market is super inflated right now Lowering the pmi payment meant that people could lend a few thousand more towards an even better house and over extend themselves further with less security if the mortgage defaults.

Good, they should stop being poor.

PMI is bullshit if you have good credit/ income but happen to be young
I'm 26 and make 70k
Never missed a payment on anything
Student loans
Installment loans
Car payments retail/lease
Ect


And I get stuck paying this shit because I don't want to live in some Haitian shack for my first non rented home

On the other hand i get it
Most people my age especially In my state went from parents paying for school working part time to big boy job where they can't handle the money

Obama threw this in during his last few days, it hasn't even gone into effect. Literally just a last minute land mine to produce headlines

>Mortgage insurance required for people who finance 97% of the value of the property as FHA loans allow
>these people don't have enough assets to put down a reasonable down payment
>can refinance when financed amount is below 80% to value without insurance

the fuck is this a bad thing

>He never saved any money

shake my head to be honest senpai

Sounds like nothing has changed from 2008 except I don't hear commercials from lenders anymore like "If you credit is so bad you can't buy a candy bar with cash. CALL US TODAY AND BUY THE HOME OF YOUR DREAMS!

>Discuss how this is killing poor people or something
fuck poor people desu
just ship them all to mexico

...

this

GWBush got home ownership at all time highs. millions of poor people got in over their heads on mortgages they couldn't afford, living paycheck to paycheck. the first time an unexpected expense happens, they get behind on their house payments. millions get foreclosed on and we have the housing crisis.

it also artificially jacked up home prices

Even HuffPo was reporting that the mortgage insurance only saved $500 a year. So yeah, it'll be more expensive. Save $20 bucks every paycheck.

Sounds like south Florida