| 09.06.2011 - New rules sparked by 2008 meltdown could shut all but the 'white and the wealthy' out of the housing market |
| They were supposed to control reckless lending and stop a repeat of the 2008 financial meltdown. But critics say new mortgage rules could stop all but the 'white and the wealthy' being able to buy their own houses, trapping lower-income families in the rental market. The measures, proposed by six federal regulators, would limit lower-cost mortgages to buyers who can afford a 20 per cent down payment...............................................Full Article: Source |