asian markets flat to lower. on wall street, what s going to happen? futures leaning up here. it looks like a bons or attempt to bounce after a tough day. stocks down two days in a row on trade tensions between the u.s. and china ahead of the really important trade talks this week. the dow closed 314 points lower. the s&p fell 1.6%, the nasdaq, 1.7%. the fed chief jerome powell said the fed will soon start buying short-term treasuries to help stabilize short term lending markets. we ll add to the is up play of reserves over time. powell didn t go into the specifics about those plans. pane at the pump for drivers in california. gas prices almost double what most of the rest of the country pays to fill up. aaa reports the average price of regular in california now $4.18, the highest since may 14th.
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down and banks shouldn t be giving them and the government shouldn t guarantee those loans. and the down payment, the chances they re not going to have weak or okay credit, they will have strong are credit because they have a chunk of money. what is the obama administration seeking to do. what percentage of down payment. do they think it should be relaxed and we re on the hook as taxpayers. what is the line of demarcation for down payment? there s no bright line. part of this is fha low down payment requirements, 3 to 5% which seems pretty dangerous and others are more to the private banking system and trying to make sure that a 10% down payment is enough, you don t need 20 or 25. there s no magic line, no magic number that says this makes sense, this doesn t. that s why we have a private banking system and most lending markets you rely on banks to make the decision and wise credit decisions. we did 20% and we didn t have the housing bust when we had the higher down payments
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