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Caution on Housing‚Äö?Ñ?¥s Outlook is in Order09-01-09 | News

Caution on Housing?EUR??,,????'???s Outlook is in Order




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In a recent survey, 26 percent of the builders reported that they are losing sales because of low appraisals ?EUR??,,????'??+ some significantly below their cost of construction. - Courtesy of Enid Homer Builders


Those same tight lending standards, along with extremely conservative (some would say low-ball) appraisals, are also acting as a drag on single-family construction.

In the Federal Reserve?EUR??,,????'???s quarterly survey of senior loan officers of large regional banks conducted in July, 22 percent of the 51 responding banks said that, over the previous three months, they had tightened credit standards for prime mortgage loans to consumers. None indicated they had loosened their requirements. – Courtesy National Association of Home Builders

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