Part 11/16:
Mortgage Forbearance Extensions: The Consumer Financial Protection Bureau (CFPB) proposes postponing foreclosures until 2022 and allowing borrowers to extend their mortgages to 40 years without additional interest, significantly reducing monthly payments.
First-Time Home Buyer Credits: A $15,000 credit aims to boost demand among new buyers, potentially raising prices further.
Foreign Investment: A Biden policy proposal to open the U.S. to more foreign investment could flood the market with additional buyers, pushing prices higher.
While these policies stimulate the market temporarily, they may also drive prices out of reach for average buyers long-term, especially if wages do not catch up.