43% of first-time home buyers put no money down

USA Today reports:

As housing prices soared last year, an eye-popping 43% of first-time home buyers purchased their homes with no-money-down loans, according to a study released Tuesday by the National Association of Realtors.

The trend is potentially ominous. The real estate market is cooling in some areas, and rates on adjustable-rate loans are creeping up. As a result, some no-money-down buyers could owe more than their homes are worth.

The median first-time home buyer scraped together a down payment of only 2% on a $150,000 home in 2005, the NAR found

So,owning a house in some areas is now riskier than being long soybean futures for an extended period of time.At least with soybeans futures you know what the closing price is everyday.