The House of Representatives passed a bill last week that went a long way to addressing some of the crucial problems facing homeowners, these days.

I won’t mention the specifics, because they are covered elsewhere. (It’s called the “Mortgage Reform and Anti-Predatory Lending Act of 2007”. Google it.)

Two things though.

First, and foremost, it’s irrelevant that the House passed this bill, because the Senate won’t be discussing it until the new year.

That’s a crying shame, and blame should fall directly on the shoulders of Senator Christopher Dodd, Democrat from Connecticut, and, as we all know from incessant (and mind-numbing) debates, a candidate for US President.

Second, the bill, while giving additional protections to current homeowners and future home buyers, is not necessarily a panacea for everything that ills the nation.

As Holden Lewis put it, succinctly:

There is little doubt that if the bill became law, fewer people would get mortgages. It would result in fewer home sales and refinances. Some would-be homebuyers would have to continue renting. Because there would be fewer buyers, there would be less price pressure on houses. Where house prices are going down, they could fall faster; where they are going up, they would rise slower.

Whether those effects are good or bad depends upon your perspective. Landlords should like the bill because it will expand the pool of renters. First-time buyers will like the bill’s effect on house prices, but only if they can get loan approval under tighter underwriting guidelines.

A slower, but more stable, real estate market?

I’m all for it.

More: See Ya SISA – By Holden Lewis, Mortgage Matters

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Updated:  1st Q 2018

Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
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