$1,000 down payment to buy a home is effectively no down payment and amounts to renting with 100% government insured financing. Real Estate Brokers won’t work selling homes where there is no equity to pay their commission. In such cases homeowners usually walk leaving a house to foreclosure, bringing down home values in a neighborhood. If this government experiment proliferates, making mortgages to home buyers with a mere $1,000 down payment, it will not only cost taxpayers billions covering no down payment foreclosures, it will force homes values down to where Americans may find it economically safer to rent not own. The Obama government could effectively socialize homeownership, transferring homeowner equities to the poor, making homes so undesirable as an investment, that once valuable homes would sell and rent dirt cheap as poor housing. Subsequently, Government would not have to sell homes to the poor for a $1,000 down payment as home ownership plummeted, but provide millions of abandoned homes  free or cheap rent to millions of poor. If the Obama government's socialized housing proliferates it could in Obama’s own words, “level the playing field” destroying the value of Americans’ number one free enterprise investment their home. Next would be other investment properties like apartment buildings. Most Americans’ savings have been the equity in their home. Once that is destroyed most Americans will have nothing. Historically when Citizens have little or nothing, they will support a socialist or communist government.