21.11.2012 - U.S: Tight lending is choking nascent housing recovery
The housing recovery has achieved liftoff, but it won't reach escape velocity until tight-fisted banks loosen tough lending standards put in place after the worst housing crisis since the Great Depression. The latest signs of strength came from Tuesday’s numbers on housing starts for October, which hit the highest rate in more than four years. Construction began at a seasonally adjusted annual rate of 894,000 units — at 3.6 percent gain — to hit the highest level since July 2008 when the housing bust was in full swing..............................................Full Article: Source
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