It's been argued that a potential solution towards effectively curing what ails the market is dealing with the major deterrent that prevents many from purchasing Miami Beach homes in the first place: the down payment.  A nonprofit research and policy group believes that's exactly what's deterring the path to homeownership.

The Center for Responsible Lending as the group is better known states a pretty simple fact: requiring higher down payments reduces the number of buyers ready to buy Miami Beach homes or any home in South Florida.  To put things into perspective, the average family would need to save for about fourteen years before they would have enough to make the minimum twenty percent that the majority of lenders require these days.

What does The Center for Responsible Lending propose as a solution to the mortgage problem?  While they don't provide an exact solution, they believe it's more important for lenders to properly underwrite  loans in order to ensure affordability.  Affordable loans for Miami Beach homes do exist such as  those offered by the Federal Housing Association but not all properties qualify.  What do you think?