Lending is Disadvantaging its Own Future

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Posted To: MND NewsWire

"The face of America is changing, and the housing market is changing along with it. If the mortgage market doesn't keep up, the nation's economy will bear the consequences." That flat statement introduces an article by three housing experts that appeared recently in the Washington Post. Gary Acosta is co-founder and chief executive officer of the National Association of Hispanic Real Estate Professionals. Jim Parrott is a nonresident fellow at the Urban Institute, and Mark Zandi is chief economist at Moody's Analytics. The three point out that by 2045 more than half of the U.S. population will be persons of color, and they will be responsible for an overwhelming amount of housing demand, particularly as first-time buyers. Hispanic Americans are expected to form more than half of new households...(read more)

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