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Watch out for Washington

Perspective: Real estate's November report card
Published on Nov 22, 2010

Editor's note: Lisa Marquis Jackson is vice president at John Burns Real Estate Consulting.By LISA MARQUIS JACKSONElected and appointed government officials have a tremendous track record of making a huge difference in housing, both positive and negative, as evidenced by the timeline below. The series of policies that started with the 1992 act relating to government-sponsored entities (The Federal Housing Enterprises Financial Safety and Soundness Act of 1992) and culminated with the greatest housing market collapse in more than 75 years underscores the impact government can have. We see 2011 as a very uncertain year for housing, primarily because the powers that be in Washington, D.C., continue to influence the dynamics of the industry. Take note of the following: Passage in the Financial Reform bill is creating tremendous uncertainty in the mortgage industry, primarily because nobody has defined the parameters of a "qualifying mortgage."Discuss...

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