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New lending rules will suppress homebuying

The United States should be enjoying a major resurgence in home building and buying ... However, the nation’s bankers believe new mortgage rules promulgated by the Consumer Financial Protection Bureau will be a damper on the housing market. Sue Ogrocki, Associated Press

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The United States should be enjoying a major resurgence in home building and buying, which would boost the nation’s sluggish economy. However, the nation’s bankers believe new mortgage rules promulgated by the Consumer Financial Protection Bureau will be a damper on the housing market.
In a typical good economy, some 1.7 million new housing units are constructed each year. After the 2008 economic crash, that number dropped precipitously. Last year, housing construction had rebounded to 950,000 new units, still 750,000 below the average.
But significant pent-up demand exists for housing. Over the last five years ...


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