The past 5 weeks have seen mortgage applications crumble a further 16% – their biggest such drop in 14 months as the index for home purchase applications hovers close to its lowest level since 1995. Non-seasonally-adjusted, this is the worst start to a year in over a decade. Must be the weather?
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I will offer another alternative to why the construction industry has crashed: EBT cards cannot pay mortgages. At least not yet. Time for the pResident to issue an executive order.
David DeGerolamo
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EBT cards cannot pay mortgages…but a Section 8 housing voucher can