Fed to issue new rules to stop shady home-lending practices
The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs. Sounds like closing the barn doors after the horse has run off.
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5 Comments
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Seems there should have been more government regulation and tighter qualification for subprime mortgages in order to prevent what we’re now facing.
San Diego Real Estate
Tough times in real estate may change the San Diego conventional wisdom that you can never lose in real estate.
Ben
San Diego Dental
In the long term real estate always bounces back and people should take advantage of these slow periods if they really want to get a good return on their investments.
Adam
Oakland lawyer
It seems speculators were first into the dot com boom, when that went bust they moved into real estate and now it seems like they’re moving into commodities.
SD eye surgeon
About time the Fed did more for the housing market! “Even though we’ve changed and we’re all finding our own place in the world, we all know that when the tears fall or the smile spreads across our face, we’ll come to each other because no matter where this crazy world takes us, nothing will ever change so much to the point where we’re not all still friends.”