"Lender's are still too tight; loans too difficult for homebuyers"

By
Real Estate Broker/Owner with REMM Realty brokered by eXp Realty DRE# 530118
I posted this on July 14th, 2011.

Bernanke says home price stabilization necessary to wo buyers

In my humble opinion  the problem is with the lending "establishment". They are stingy with loans and very slow in their approving of  short sales.

And they created this fiasco in the first place.

In over 30 years in Real Estate I have never seen anything like this. Additinally there isjust too much inventory to stabilize anything.

Come on lenders; get real already!!


I am posting this today, November 19th, 2012; seems as though nothing's changed except inventory; in SOME markets it is low and in others still high.

Mortgage Lending Standards Too Tight, Bernanke Says 


Mortgage lending standards are preventing responsible would-be homeowners from purchasing homes, said Federal Reserve Chairman Ben Bernanke last Thursday.
 
Bernanke said that while tighter standards were appropriate after the financial collapse, "at this point the pendulum has swung too far the other way, and that overly tight lending standards may now prevent creditworthy borrowers from buying homes, thereby slowing the revival in housing and impeding the economic recovery."
 
While Bernanke said the housing market has made recent strides, he was cautious to add, "The housing sector is far from being out of the woods."

Posted by

Jim Guido

Realtor, Broker, Owner

239 W. El Portal, Suite B

San Clemente, CA 92672

949.769.4900 Direct Line

 

Comments (1)

Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Good point...and a challenge that needs to be taken up by the lenders.

Nov 19, 2012 02:47 AM