Tight Credit Choking Recovery?

According to the National Association of Home Builders (NAHB), even as the housing market begins to improve, the bottleneck of tight credit for builders as well as for consumers remains an obstacle to a much more robust recovery. Some materials producers closed plants and idled workers, and they are reluctant to expand as long as builders cannot obtain credit and prices are rising fast. As NAHB Chairman Rick Judson says to MHProNews, “Restoring the flow of credit to home builders with viable projects and fixing the residential appraisal process will not only help to put America back to work, it will strengthen communities across the land and provide badly needed tax revenues that local governments need to fund schools, police and firefighters.”

(Image credit: rf123)

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