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Big News for Housing, Posted by Dick

The housing market got a BIG boost last week, when President Bush signed the economic stimulus package, with increases in the FHA and GSE loan limits.

Check out this special video edition of the NAR President’s Podcast, which I recorded in my home and sent to all members earlier today. It explains when the loan limits will take effect and what you can do to help pass GSE and FHA Reform. We have a lot to be excited about! Keep up the great work and please send us your thoughts on what else we can do to help strengthen the market. — Dick Gaylord, 2008 NAR President

Comments
  1. This is great news….thanks for keeping us up to date.

  2. Reginald Harrison

    Raising the FHA limits completely contradicts the National Affordable Housing Movement. The government threw the housing market into “overprice” mode by lowering interest rates too much and leaving them too low for too long and is now further holding up housing prices by increasing what is in essence a first time home buyer borrower program (FHA)to more than 100% of it’s existing limits. The foreclosure crisis is the result of poor predatory lending limits that require a complete overhaul to include maximum increases on ARM adjustments. It’s shameful that the NAR continues to falsify its position on affordable housing while supporting the legislation that implies an increase of the median housing price. Our crisis exists because houses have increased by light years beyond reasonable income increases. Let it work out.

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