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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Les H who wrote (234529)12/28/2009 9:49:31 AM
From: CalculatedRiskRead Replies (2) of 306849
 
Les, yeah - loose lending standards has been part of the government effort to support housing prices. Some of this has been aimed at limiting supply (modification programs, various foreclosure moratoria), and some has been aimed at increasing demand (tax credit, lower mortgage rates, loose lending standards).

I put a list together yesterday - it is pretty stunning - from the Fed and Treasury buying MBS, to the homebuyer tax credit - to the FHA rules.

But the key is that most of the programs are scheduled to end over the next 6 months - including tighter lending rules (more coming such as reducing the seller concession for FHA loans, and increasing the cash upfront requirements).

And my list doesn't include ongoing housing support (like say tax breaks) or local (city/state) programs. It has been amazing

best wishes
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