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