Fed issues housing market white paper

WASHINGTON – Jan. 6, 2012 – The Federal Reserve Board studied the U.S. housing market to analyze existing problems and suggest possible solutions, saying, “There has been much discussion about the pathway forward, and the Federal Reserve has received questions and requests for our input and assistance.”

The white paper, “The U.S. Housing Market: Current Conditions and Policy Considerations,” calls for increased lending to creditworthy homebuyers, and more loan modifications, mortgage refinancings and short sales to reduce the rising inventory of foreclosed homes and help stabilize the housing industry.

The National Association of Realtors® (NAR), in a response, says it agrees with the Federal Reserve’s findings and, in fact, is already an advocate for the proposed changes.

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