It’s never been cheaper or easier to borrow money to buy a home, the result of fundamental changes in the lending industry over the last decade that have greased the wheels of California’s runaway housing market.
Economists say that tumbling interest rates and a profound loosening of credit standards have allowed millions of families to buy homes despite a climate of quickly rising prices. Coupled with higher incomes, cheap and easy credit has fueled a remarkable surge in home ownership across the country.
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