Americans Need a Down Payment Credit

There is a simple way the government can make home ownership available to most Americans.

The US Treasury, or Federal Reserve, could give home buyers a credit to cover the cost of a down payment. The credit will be a cash payment built into a mortgage. Hence, the government will finance no-down payment mortgages for most Americans.

My suggestion is to give each household one down-payment credit every 10 years for their primary home. There could be an income restriction of $500,000. However, people who move because of job, education, or a…