Monday, November 14, 2005

Lereah on the Proposed Mortgage Changes

The Realtors association’s chief economist, David Lereah, called the proposal “irresponsible” and the timing “terrible,” since the real estate market, while far from taking a nosedive, is slowing noticeably. “When you combine the long-term effects of the hurricanes with rising interest rates, such a plan would do severe damage across the board,” he said. (RISMedia 11/14

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