Read my latest Bloomberg View column Guess What’s Holding Back Housing. Please join the conversation over at Bloomberg View. Here’s an excerpt…
During the U.S. housing boom, real-estate appraisers acted like deal-enablers rather than valuation experts. Indeed, inflated appraisals were a key ingredient in the erosion of mortgage-lending standards that led to the housing bust. Now we are seeing the opposite — low appraisals — with unwelcome consequences for the housing market.
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Tags: HVCC, Dodd-Frank, Housing, low appraisals, Andrew Cuomo, Home Valuation Code of Conduct, Federal Reserve Bank of Philadelphia, hit the number