Andrews third post

Recently, their is a high demand for the average american to buy a house. Weather one can afford it or not, Americans want to buy something that meets their personal desire. In other words, American's personal preferences have been a huge deciding factor when it has come to buying a house. Being the American that we all are, we all want the nice house, with the myriad accommodations that suit our desire. Once an inferior good, the buying of a house as become an purchase that many more Americans have been willing to make. An inferior good is a good that decreases in demand when consumer income rises. However, in this economy, consumers income actually hasn't risen, rather,  banks and easily credited mortgages loans have enabled the buyer to meet his or her needs. Recently, the increased cost of F.H.A mortgages has shifted the math a bit for the would be borrowers. Generally, the most popular low down parent loans have been promptly issued by the Federal Housing Administration. Generally, Borrowers can make housing payments as low as 3-5 percent, however, an alternative has been made. This alternative is private mortgage insurances, those who are willing to only put a down payment on a house for less than 5 percent. Rather than being provided by the government, the insurance is provided a private company. And when a borrower puts a down payment on a house for less than 5 percent, this enables the buyer to purchase a house for less than he initially would have before. All this being said, Buyers have been given the opportunity to buy something for less. Since their is such a high demand for houses at this point, people have to wonder if their are enough houses for everyone who wants to make a down payment. This controvarsary has become a hot topic in todays news headlines. Many debate over the fact of whether private insurances should distribute easy credit to Americans. This topic that is heavily studied by many economist.