…Are Condemned to Repeat It

A recent Wall Street Journal cover article headline read, Builders Fuel Home Sale Rise. Curious, I read further:

New home sales jumped 28.9% in January from a year earlier [Gotta like that, been tough sledding in this market]. In the past two years, more homebuilders have offered to pay closing costs [That sounds like a solid strategy-a small item, but people appreciate the gesture] and arrange home loans through in-house mortgage operations [Hmm, that didn’t work so well last time – the loan underwriting was compromised by the conflicting interests]. They have hosted free credit-counseling sessions for buyers with bad credit scores, [Why is my eye twitching? Probably needed some more sleep] and made heavy use of government-backed mortgage programs with little or no down payment [My arm is tingling. Must have slept on it funny]. In some cases, buyers are ending up paying more than they expected for a house, raising worries that some buyers are biting off more than they can chew. [My mouth is moving, but no words are coming out. I think I just had a stroke. Please call an ambulance].

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