The government plans to pass some new laws that will affect home ownership. In 2013 these laws are supposed to protect the consumer. No, these laws protect the investors on Wall Street that purchase these loans on the secondary market. These regulations may slow down the real estate market.
The new guys on the block are going to make a serious impact on the real estate market as follows: Consumer Financial Protection Bureau, Securities and Exchange Commission, Federal Housing Administration, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency. The government plans to implement these guidelines as follows:
1. 20% down payment to reduce home purchases
2. Raise the debt ratio
3. Let the lenders increase the cost to purchase a home (Realtor Magazine November)
These regulations are to protect the public in buying real estate homes. Where were the laws for Wall Street that caused the real estate catastrophe from their greed? There were no laws to protect the consumers or taxpayers from this mess. The door is still open for another housing bubble in the future because the White House hasn't fixed the problem. Now, let us pass some fake laws to stop the housing market for moving forward in the real estate market to protect the consumers. Let's dump on the little man, Main Street, again.
If these laws are passed, it will slow down the real estate market again. The government should be moving forward in the housing marketing not backward that slow down the housing market. However, Main Street should accept that the smartest guys in the room are on Wall Street as they pass their mess down to Main Street. Who'll bail them out again? Main Street, you the taxpayers.
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The new guys on the block are going to make a serious impact on the real estate market as follows: Consumer Financial Protection Bureau, Securities and Exchange Commission, Federal Housing Administration, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency. The government plans to implement these guidelines as follows:
1. 20% down payment to reduce home purchases
2. Raise the debt ratio
3. Let the lenders increase the cost to purchase a home (Realtor Magazine November)
These regulations are to protect the public in buying real estate homes. Where were the laws for Wall Street that caused the real estate catastrophe from their greed? There were no laws to protect the consumers or taxpayers from this mess. The door is still open for another housing bubble in the future because the White House hasn't fixed the problem. Now, let us pass some fake laws to stop the housing market for moving forward in the real estate market to protect the consumers. Let's dump on the little man, Main Street, again.
If these laws are passed, it will slow down the real estate market again. The government should be moving forward in the housing marketing not backward that slow down the housing market. However, Main Street should accept that the smartest guys in the room are on Wall Street as they pass their mess down to Main Street. Who'll bail them out again? Main Street, you the taxpayers.
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