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The Government Creates Another Housing Bubble

By Patrick following x   2018 May 31, 10:07pm 173 views   0 comments   watch   sfw   quote     share    


https://www.wsj.com/amp/articles/the-government-creates-another-housing-bubble-1527807765

The root of the problem is declining underwriting standards. In April Freddie Mac announced an expansion of its 3% down-payment mortgage, the better to compete with the Federal Housing Administration and Fannie Mae . Such moves propel home prices upward. Because government agencies guarantee about 80% of all home-purchase mortgages, their underwriting standards guide the market.

Making lending even more dangerous, CNBC recently reported that “credit scores may go up” because new regulatory guidance allows delinquent taxes to be excluded when calculating credit scores. These are only some of the measures that “expand the credit box” and qualify ever-shakier borrowers for mortgages.
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