can't afford due to a sudden loan approval change

i know many people who bought new houses within their financial reach, but failed to sell their old houses. nowaday, even if a house has sale contract, the tighter loan approval procedure could easily bog down the deal.

one realtor told me that 50% of the previously approved loans got reviewed by their banks. this is unprecedented.

it is just a sudden economic downturn. people just need to have patience and let things work thru by itself over time.