"Overly stringent lending criteria imposed by Fannie Mae and Freddie Mac in the past month no doubt held back contract signings," said Lawrence Yun, NAR chief economist. (Chattanooga RE 9/15/08)
Was he complaining about the loose lending standards, which led to the collapse of Fannie & Freddie, during the boom years?
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Overly stringent lending criteria, such as being able to prove you can pay back the mortgage and not get in over your head? What did Lawrence Yun think of mortgage standards in the 1990s? By his rationale, they would have been overly stringent as well.
Lawrence Yun: /strike/speaks/strike/ spews propaganda:
If commodity prices continue to go up, as many experts anticipate, your customers can stay ahead of inflation if you can help them understand that, over the long term, home prices will go up.
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