Ok. This is not going to be a rant. It is going to be an observation. 😉 Yes. They are different.
The mortgage market swings from too loose to too tight in some almost too easy to predict cycles. As long as there are lenders that are “too big to fail” and where bailouts exist, there will be people more than happy to risk other peoples’ money. And then when that happens there will always be people overly willing to artbitrarily regulate the stuffing out of the market and cause many people who would otherwise qualify for a loan undue difficulty and heartache in getting one.
Case in point Ben Bernanke. This was first brought to my attention by the folks at the Real Estate Group. Seriously, check out their take. They use this as an opportunity to convey understanding to their clients. Nicely done. But check out more of the details in the original Bloomberg News report. Ben Bernanke who was the outgoing chairman of the Federal Reserve, had the following issues:
- Job change
- New business (making speeches)
- etc etc
Is the home mortgage market currently too restrictive? What are your thoughts?