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- Building Castles to the Sky
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Here are a couple of interviews with analysts that were wrong about housing (emphasis added) …From a Newsweek interview with ex-NAR economist David Lereah: It’s Going to Get Worse “[I] just didn’t realize the scope, the extent, the magnitude of the loose underwriting—not looking at incomes and wages, just providing so many mortgage loans based on [expected] future price appreciation rather than the creditworthiness of the borrower,” Lereah says. “That got so out of hand, and n…
Original Source
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6 May, 2008| housingblogs |
@ 23:45