Here is a link to some promising news from Lawrence Yun, Chief Economist at the National Association of Realtors. In addition to anticipating a better year in real estate sales, he says "The problem isn't with interest rates, but with the continuation of unnecessarily tight credit standards that are keeping many creditworthy buyers from getting a loan despite extraordinarily low default rates over the past two years."
Yes, it stands to reason that the extraordinarily low default rates probably stem from the unnecessarily tight credit standards. However, if we really want a true housing recovery we need to be more aggressive with eliminating the current inventory and shadow inventory of people waiting to sell when/if conditions approve. It is good to see more people calling out for more aggressive financing options for those that should be able to qualify a loan, but can't under today's often time unrealistic lending guidelines.
Source: http://www.marketwire.com/press-release/housing-and-economic-forecasts-point-to-rising-activity-1513897.htm
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