Sharon Cornelison
speaker
36 appearances
1 recordings
1 series
first heard Mar 2026
last heard 19 Mar
Sharon Cornelison’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Mar 2026 with 1.
Appearances
Yeah, so in many cases, we see that in those places,
Cash buyers have an advantage, right?
Because people can't buy with a mortgage, so you kind of have to have cash.
So we see that the playing field tilts towards investors.
So it means that local homeownership opportunities go down and less wealth is being built locally in the community, right?
Another kind of alternative that we see emerging is often there's kind of exploitative alternatives that don't have a lot of consumer protections.
For example, there could be like seller's financing where you have to enter into a land contract with a seller.
But these kind of arrangements more often fail than they succeed.
So in most cases, it's much better for people to kind of have access to the standard 30-year mortgage with a lot of protections and kind of they know what they're getting into.
I think there have been some unintended consequences.
I mean, the Dodd-Frank Act was really important to prevent these kind of predatory mortgage products from emerging again.
But especially at the bottom of the market for homes with very low values, lenders can only charge up to a certain amount of points and fees if they want to originate a mortgage today under these protections.
But it means that a lot of lenders don't really see it worth their while because they may spend as much time originating a $50,000 mortgage as they would originating a $500,000 mortgage.
And they can get a lot more compensation in the latter case, right?
So they go for the bigger mortgages better than the small mortgages.
Thank you.
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