The President, Not Truly In Touch With Housing

The new regulations in regards to potential homeowners qualifying for a mortgage are not going to help the housing market recover.

I listened to the President’s State of the Union address. What he said and what is reality are worlds apart.

Unemployment at near 8% and I don’t see these numbers changing anytime soon. How does this help housing? As a result of Dodd-Frank, the future QM rules which limit the debt ratio to 43% or less for folks wanting to purchase or refinance, will take about 25% away from the market. How does this help housing?

The growing Federal deficit is totally out of control. I have already agreed to pay more in taxes, but nothing is being proposed that reduces spending. How is this helping housing? The cost of home heating, gasoline and electricity continues to move up. How is this helping housing?

President Addresses Housing Concerns, Demands Congressional Action

By: Krista Franks Brock

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »