Housing Wire
SEPTEMBER 26, 2023
. “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 Wire
AUGUST 21, 2020
The second part of this story that folks seem to forget is that the existing home sales market only needs 4 million mortgage buyers a year to remain stable. Note too, that the housing market for the last many years has been composed of 15-20% cash buyers – that is a big chunk of buyers that don’t need a mortgage in order to purchase.
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Housing Wire
DECEMBER 29, 2022
The housing market of 2002-2005 had four years of sales growth facilitated by credit. However, what isn’t identical is that we have not had a massive sales boom like we saw from 2002-2005. This is significantly different than the period from 2002-2005 when credit expansion was booming. Home sales. Housing credit.
Housing Wire
JANUARY 20, 2023
From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun. This means we don’t have enough housing inventory available because with lending standards back to normal we can’t replicate the credit demand we saw in housing from 2002-2005.
Housing Wire
SEPTEMBER 22, 2020
I’m not saying that home-price growth will somehow morph into a speculation bubble like it did in the 2000s — our credit lending standards will prevent that — but housing could become considerably less affordable even with low mortgage rates if this continues. The majority of home buyers in America buy homes to live in, not for an investment.
Appraisal Buzz
MAY 17, 2021
Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. Prices were escalating quickly, and buyers were purchasing in a frenzy for fear of being left behind and not being able to get their foot on the property ladder. Appraisers’ jobs are not to facilitate mortgage lending.
Housing Wire
APRIL 8, 2022
history are ages 26-32, and the first-time median home buyer age is now 33. housing market, and we should never ease lending standards to try to facilitate demand. Lending standards are already liberal enough, so we don’t need to go down that avenue. Late cycle lending is always a risk in the lending industry.
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