The New Loan Ceiling for Federally Backed Mortgages - $1,089,300

The Wall Street Journal is very upset about this new, this new limit on conforming loans. It's the first time it's crossed a million dollars and people are very excited. So basically the implications for real estate are that people won't be able to spend as much on real estate if they're single. That therefore demand will be lower for high price houses and that will help bring prices down at the margin.