Americans Shut Out of Home Market Threaten Recovery: Mortgages

(RECAP: First-time homebuyers hurt by rising prices and tougher credit standards are disappearing from the market, slowing the pace of the three-year recovery. First timers accounted for 26 percent of purchases in January, down from 30 percent a year earlier, according to the National Association of Realtors. This January’s figure is the lowest market share NAR has recorded since it began monthly measurements in October 2008.)