This latest article details how the mortgage industry's practices, and the subsequent "tightening" of standards, is going to leave over ONE MILLION people from obtaining mortgages for new homes!
Here's my thinking. Ouch! 1 Million fewer borrowers. More-than-usual inventory on the market. Slowing appreciation (in many markets). Increased defaults and foreclosures (won't increased foreclosures also add to available inventory?). Something needs to be done to stop the bleeding!
My company has one answer...I'm sure there are others. I'd like to hear about it.
Here's the full article: http://www.reuters.com/article/bondsNews/idUSN0924059020070309
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