A recent survey by the National Association of Home Builders (NAHB) indicates that mortgage lending standards are so tight, it remains challenging for potential buyers to invest in new homes and real estate.

After years of struggle due to the 2008 financial crisis, “housing has seen some positive growth throughout the year,” says NAHB Chief Economist Davie Crowe, learned MHProNews.

RIS Media  reports that when questioned about the loss of sales due to unqualified buyers, “eighty-three percent [of builders] answered ‘yes’ and of these, the average share of sales lost was 9.7 percent. NHAB estimates this 9.7 percent translates to 18,700 new-home sales lost because buyers were unable to qualify for mortgage.”

While the survey focused on builders, many other groups are affected by the tight lending situation brought on by Consumer Financial Protection Bureau (CFPB) imposed standards. Manufactured housing professionals should not feel alone, as auto lenders, leasing and other industries are also being impacted. ##

(David Crowe photo credit: NAHB)

(Article submitted by Lucine Colignon to Daily Business News – MHProNews)