How is this happening?? I thought they had tightened up mortgage lending standards, among other things, to prevent giving mortgages to sub prime people or for purposes of flipping. Have they backslid on such reforms?????
That said the market is whatever willing buyers and sellers agree on. And in some markets, including many on the west coast, Chinese buyers are buying real estate inflating the market with their purchases.
Indeed they have “tightened” mortgage lending standards to the point of strangling investment.
But, where there’s a will, there’s a way.
Probably using private money lenders, outside of the control of the government.
The newest ads are shouting about “real estate crowd funding” and why not? The banks first did it with mortgages, then the banks did it internationally with credit card debt.
http://www.crowdcrux.com/top-real-estate-crowdfunding-websites/
No.
CRA still exists and has moved into auto, too.