Lending tightens. 

So we are in a stalemate right now.Keep in mind we had stricter guidelines after 2008, and banks are tightening up even more now.

Tightening your underwriting standards as @Ronan Donnelly alluded to is a smart play, but lowering ARVs and extending holding cost assumptions is not so easy when everyone around you is scrambling for deals. 

Meaning it's of no financial strain on you to have that guidance and representation in the transaction and help you make that big purchase, rather than feeling like you are poking around in the dark.

What's your backup if liquidity tightens up and you can't re-fi.

Tightening up your criteria makes sense, but too many people are sitting around waiting.

Cash-out refi's have tightened up in the last 3 months, we had our latest drop from 75% LTV to 70% LTV.

Lessons Learned:1) Walk through with your contractor before making an offer to spot problems and to tighten up your offer;2) The calls come when you open the walls - contingency is important;3) Having a good contractor makes life easier;4) Keep receipts for everything - got my CO in the final hour because we could prove door from garage was solid wood;5) Take a moment to enjoy the process.

We may see an increased demand for shared living spaces as people tighten their budgets and cut costs in response to the pandemic.

Although mortgage rates are at historic lows, many buyers have found it difficult to secure jumbo loans because banks have tightened their lending standards for these loans during the pandemic.ISM Non-Manufacturing Index.