59% of Home Buyers Rely on Low Down-Payment Government Mortgages

RISMEDIA, October 21, 2009—The new home market is cooling down and government intervention has been a key driver to new home sales, according to a recent monthly survey of home builders, just released by John Burns Real Estate Consulting. In addition to the tax credit that expires Nov. 30, government mortgage programs have been critical in 2009. The survey reveals that 59% of this year's sales have been dependent on FHA, VA Continued