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The Impact of Government Shutdown on U.S. Housing Market

In an advisory to its employees when a government shutdown threatened its funding in January this year, HUD had said that in case of a shutdown, the agency's operations and most of its functions would cease "unless they are legally excepted activities." A large majority of HUD employees are non-excepted, which means that they are prohibited from working during a shutdown. 

As the 116th congress gets sworn in and the Democrats take over the house amid a partial government shutdown, experts worry about the impact this will have on the U.S. housing market. Sharing her insights, Diana Olik of CNBC discusses the risks of lending in the absence of proper channels to verify borrowers’ tax returns and how this will shape home lending in the near future. 

 

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About Author: Donna Joseph

Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at donna.joseph@thefivestar.com.
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