Remove 2002 Remove Housing Market Remove Lending Remove Marketing
article thumbnail

Comparing this housing market recession to 2008

Housing Wire

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. A few months ago, I was asked to go on CNBC and talk about why I call this a housing recession and why this year reminds me a lot of 2018, but much worse on the four items above.

article thumbnail

Dave Stevens on understanding this housing market

Housing Wire

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. In many ways it was similar to today, with one exception: When I started, I hadn’t been spoiled by a housing market like the one in 2020 and 2021. economy, especially the mortgage and housing sector.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What would it take to crash the housing market?

Housing Wire

In time, markets always find balance and balance is a good thing. But, that doesn’t mean housing is going to crash. I set a specific home-price growth model for the years 2020-2024 that said if home prices only grew at 23% during this five-year period, the housing market would still be OK, given wage growth.

article thumbnail

Will mortgage lending get tighter in the next recession?

Housing Wire

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collapsed. The short (and long) answer is no, not a chance.

Lending 476
article thumbnail

Wow — 6 million existing home sales! However, context is key with 2020 housing market data

Housing Wire

housing market and compare those to where we are today — in the middle of one of the most epic years in our country’s history, due to COVID-19. No doubt about it, the COVID crisis has taken some juice out of the 2020 housing market. The February housing data, pre-COVID, was juicy indeed. higher than a year ago.

article thumbnail

US home prices continued to rally in July 2023

Housing Wire

“This is about the same rate of price growth that occurred during the 2002 through 2006 period when subprime lending drove exuberant housing demand. “But that is where the similarities end. Housing equity is at an all-time high, providing homeowners a very deep cushion against a downturn. ”

Inventory 426
article thumbnail

Is the Dallas Fed right to label this a housing bubble?

Housing Wire

The Dallas Fed on Thursday published an article titled: Real-Time Market Monitoring Finds Signs Of a Brewing U.S. Housing Bubble. The online reaction was immediate — housing must be about to crash. First, because there is no speculative debt demand going on today, there can’t be a housing bubble. Let me explain.