A recent working paper by the Federal Reserve Bank of Philadelphia looked at the impact the Home Valuation Code of Conduct has had on the outcome of appraisals and mortgages. Inflated appraisals, which contributed to the housing bust, were replaced by low appraisals during the housing-market collapse. But the study indicates that the impact of low appraisals also may be problematic because higher levels of loan rejections put a damper on the housing market.
Low appraisals are holding back housing
BloombergView reports that one of the main, and unwelcome, consequences of the housing bust are rampant, widespread low appraisals.
Advertisement
Top Articles
Advertisement
Advertisement
More in Category
Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness
NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs
Sure there are challenges, but overall, Pro Builder's annual Housing Forecast Survey finds home builders are optimistic about the coming year
