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| Permalink View Article Stats Armageddon for Home-Owners? 12 Facts That Show We're in the Midst of the Worst Housing Collapse in US History Quicklink submitted by Margaret Bassett (Add your own quicklinks easily with the OpEdNews Quick Link Browser bookmark) |
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| But even many Americans that do have jobs are finding out that it has become very, very hard to qualify for a home loan. In an attempt to avoid the mistakes of the past, banks and financial institutions have become very stingy with home loans. While it was certainly wise for them to make some changes, the truth is that perhaps the pendulum has swung too far at this point. The U.S. housing industry will never fully recover if they can't get their customers approved for mortgages. Congress is talking about passing even more laws that will make it even more difficult to get home loans. Even though they give speeches about how they want to help the U.S. housing industry, the truth is that Republicans and Democrats are both backing proposals that would make home mortgages much more expensive and much more difficult to obtain as a Bloomberg article recently explained. |
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