New CFPB imposed guidelines for mortgages loans aren’t just threatening manufactured housing, they are squeezing conventional housing buyers too. Sam Khater, senior economist at CoreLogic said: “It will tighten things further. The largest constraint is the 43 percent threshold,” said Khater. “It will hit more refinances than purchases because a lot of them use a high debt-to-income ratio. It will also hurt home borrowers in distressed environments.” Yahoo! Homes tells MHProNews that new regs are hurting (1) First time home buyers, (2) those who had a career disrpution in the last 5 years, (3) those in high priced markets, (4) the self-employed and business owners; (5) widowed, divorced and seniors – even those with good credit – may have more trouble than pre-housing-mortgage bubble burst. “Baby boomers entering retirement and young adults will feel a disproportionate impact because of their lower income levels.” One group not harmed are the rich, and all cash buyers, as we reported in this recent stories linked. While no one really wants to see housing harmed, this could prove to be an opportunity for manufactured home communities and retailers, who successfully tap into the inability of these groups to buy traditional houses. ##

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