Article Notes Beacon Economics Report Findings
Report was ignored by legislators
An article published in the Riverside Press-Telegram noted the findings of the Beacon Economics Report, a coalition-supported understanding of the impact that the Homeowners Bill of Rights would have on the State of California. The report was published ten days prior to the signing into law of the Homeowners Bill of Rights.
“Beacon's analysis said the regulations would slow the foreclosure process, make it more costly for loan servicers to deal with and help only a small fraction of homeowners who are behind on their payments. The analysis also predicted the housing recovery would slow down, home values would fall and credit availability for future homebuyers would diminish,” the article summarized.
“It could punish perfectly responsible homebuyers in California,’’ Beacon Economics founding partner Christopher Thornberg was quoted.
Read the full story in the Riverside Press-Telegram
Read previous story on the Beacon Economics Report (including copy of the report)