Article says “Because affordable housing is rapidly disappearing throughout the U.S....”
All we need is another “Community Reinvestment Act of 2023 (CRA Part Deux)” to
“encourage certain insured depository institutions to help meet the credit needs of the communities in which they are chartered, including low- and moderate-income (LMI) neighborhoods, consistent with the safe and sound operation of such institutions.”
That way everybody could afford a house without having a verifiable income and that would solve the housing crisis.
It worked once before. It would work again. (just kidding, folks)
See “2007-2008 Financial Crisis” if you don’t understand what I’m saying.
CRA part deux? I see what you did there. Gonna need a LOT of paperwork to clean up that mess.
You mean give mortgages to people who can’t pay them back? What could go wrong?