2. Although a down-payment of 20% is typical for for a home purchase, homebuyers of modest means can qualify for a loan insured by the Federal Housing Administration (FHA) with a downpayment as little as 3.5%. The political intent is to broaden home ownership among low- to-moderate income households. a. Suppose a household takes out such a loan with a 3.5% downpayment. What leverage ratio does a 3.5% downpayment correspond to? b. By how much would housing prices have had to decline for the household to have a-100% return on its housing investment? (Note that aggregate U.S. housing prices had declined more than 30% from their pre-2008 peak by the end of 2010, see: https://us.spindices.com/indices/real-estate/sp-corelogic-case-shiller-20-city-composite-home- price-nsa-index)