Federal Reserve Governor indicates that new consumer protections may come at a cost to the industry as lower-quality-credit borrowers are precluded from the housing market. The new ability-to-repay-rules may slow first time buyers from qualifying; and "the move up market will be sluggish."
In my opinion slow recovery is much better than what saw as a result "No-Qualify lending" in the last decade... so soon we forget...!!!
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