July 17, 2009
Experts: New Lending Rules Will Have Little Short-Term Impact on Builders
Builder Magazine
By Alison Rice
...The good news for builders is that the Federal Reserve's new "truth in lending" rules will have little impact on new-home builders in the near future. The bad news is the reason why.
"In the short run, the new regulations will not matter much at all because the problems that the home building industry is facing are so much larger than this," says Richard Green, director and chairman of the Lusk Center for Real Estate at the University of Southern California, referring to the many factors behind the current housing slump...