As mentioned in the article, economists have tempered there enthusiasm as much of the growth has come from the multifamily segment. One point that I found interesting is that "the new chief of the Federal Housing Finance Agency will make it easier for more Americans to qualify for loans."
How do you all feel about the housing market? What do you think about easier loans for America?
http://online.wsj.com/news/articles/SB10001424052702303908804579565633294609054?mg=reno64-wsj
It's a head smacking moment for me anytime I hear a regulatory official or banker say that they "will make it easier for more Americans to qualify for loans. We don't seem to learn from our past mistakes.
ReplyDeleteI had the exact same reaction as Rasheed. I was just scratching my head and telling myself, "This is the last thing we need right now!"
ReplyDeleteI agree with both Rasheed and Tyler. Furthermore, I don't think the number given in the article is an accurate representation of the housing market. The sale of single family homes grew less than 1% and there are other thousands of foreclosed properties. To portray an accurate housing market, all these things needs to be considered.
ReplyDeleteI think this is truly indicative of the short memory American consumers seem to have. Then again, why wouldn't these people pursue loans that would allow them housing? With these people able to purchase homes and people being able to turn a profit out of that this really isn't surprising.
ReplyDeleteHousing market is looking very nice for people who want to buy homes. I know in Detroit, there are pretty nice houses (that could use a little fixing up) that are being auctioned off for around $1,000 each. I might honestly buy a few as an investment.
ReplyDeleteAs many others, I have significant reservations about this. As Rasheed stated, the phrase "easier to qualify for loans" is always an alarming one to hear...particularly in the housing market.
ReplyDeleteeasier loans=lots of trouble! This reminds me of the brochures that Professor McKinney showed us during class....
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