Tuesday, August 23, 2005

Latest loan skeptic a shock

Johnathan Lansner has some real news about those non-traditional loans propping up the real estate market.
Perhaps the latest mortgage skeptic will quiet folks.

The National Association of Realtors - real estate's top cheerleader - now says there's a mortgage problem.

Yes, the trade group for your friendly "There's never been a better time to buy" Realtor raised the warning flag.

Last week, an unusual duo - the Realtor group and the Center for Responsible Lending - issued a formal alarm about loan risks. It's a rarity to see a pro-business group like the Realtors cozying up with consumer activists such as CRL.
Even the National Association of Realtors.