US housing market: New rules could shut out all but the 'white and the wealthy' | Mail Online
They were supposed to control reckless lending and stop a repeat of the 2008 financial meltdown.
But critics say new mortgage rules could stop all but the 'white and the wealthy' being able to buy their own houses, trapping lower-income families in the rental market.
The measures, proposed by six federal regulators, would limit lower-cost mortgages to buyers who can afford a 20 per cent down payment.
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