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Opinion
Megan McArdle

Can't Afford a House? Don't Buy One

America needs more low-down-payment loans. That seems to be the opinion of our government, anyway. 
That can't be right ...
That can't be right ...

America needs more low-down-payment loans.

That seems to be the opinion of our government, anyway. The government agencies that drive most of the housing market are pushing for lower down-payment standards on mortgages, easing the 20 percent requirement that has become standard for much of the market.