US DATA: NAR outlook says US econ will benefit if mortgage lending
conditions return to normal. “Sensible lending standards would permit
500,000 to 700,000 additional home sales in the coming year” and
related econ growth would add 250k-350k jobs. NAR says current conds are
unreasonably tight credit for residential mortgages and their survey
finds lenders are taking too long in approving applications and
the information required from borrowers is excessive.