Support mixed for mortgage cap plan

Javier Silva of Demos, a New York-based think tank, yesterday opposed any change. Raising the limit would extend a dangerous trend of loosening lending standards to enable consumers to buy homes they can't truly afford, Silva said. "The answer is to find ways to lower home prices, not simply raise debt limits to allow inflated prices to soar even higher," he said.
 
A proposal to reduce housing costs by relaxing federal lending limits in pricey real estate markets drew a mixture of praise and sharp criticism yesterday from real estate analysts.