Real estate feels pinch from tougher lending rules

Guest perspective: Sales slide, rates rise, economy sputters

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Spooked by declining home prices and rising delinquencies/foreclosures, lenders are now becoming more restrictive when issuing residential loans, approaching levels not seen since the post-S&L crisis of the early 1990s. The Federal Reserve’s most recent Survey of Senior Loan Officers indicates that roughly 16 percent of respondents tightened credit standards in the first quarter of 2007.