New loan regulations may have had a negative impact on the U.S. real estate market, but national figures differ noticeably from the very resilient Oahu real estate market.
Reuters reported last month that “U.S. home resales posted their sharpest drop in five years in November,” a 10.5% drop from October 2015. While some may see this is a potential warning sign for the health of the U.S. economy (especially after last week’s stock market plunge), NAR economist Lawrence Yun suggests that new regulations on paperwork for home purchases may have driven the decline.
What new regulations?
If you’ve been looking into real estate recently, you may have seen the acronym T.R.I.D. TILA-RESPA Integrated Disclosure Rule Implementation (TRID) went into effect…