Thursday, September 12, 2013

Housing Inventory Hurt By Consumer Protection Law

Chances are that when Nevada lawmakers approved new rules to protect homeowners in the state from lender foreclosure abuses they did not intend for them to cause a shortage in the housing market. Many Las Vegas lawyers see how banks and other lenders have responded to the new regulations by slowing the rate of foreclosures and post-foreclosure evictions. The unintended impact of this new trend has been a shrinking housing inventory available to prospective buyers.

The shortage of available homes for sale has created a “supply and demand” phenomenon in which the demand for homes is driving up prices. Middle class buyers are being locked out of the marketplace.

1 comment:

  1. Sad to see the middle-class families are getting the short end of this deal. Hope we're able to rectify the situation soon.