Remove 2002 Remove Housing Market Remove Inventory Remove Lending
article thumbnail

Housing inventory falls under 1M again as sales collapse

Housing Wire

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. The days on market were too low.

Inventory 540
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 501
Insiders

Sign Up for our Newsletter

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

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.

Inventory 474
article thumbnail

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

Housing Wire

That’s not to say that the data points the Fed used are incorrect — in fact, we are in a savagely unhealthy housing market , but it’s not a bubble. First, because there is no speculative debt demand going on today, there can’t be a housing bubble. housing market behavior for the first time since the boom of the early 2000s.

article thumbnail

Why home-price growth is still up 18% year over year

Housing Wire

While the growth rate is cooling monthly, we are still in a savagely unhhealthy housing market trying to get national inventory levels back to pre-COVID-19 levels. I have documented the history of these housing price crash addicts for a decade now. Housing inventory issue with no booming demand.

Inventory 397
article thumbnail

The forbearance crash bros spoke too soon

Housing Wire

Despite what they promised, we sit here today with the United States housing market outperforming all other economic sectors in the world during the pandemic. In order for the housing market to crash due to too many loans going into default when forbearance programs end, the number of loans in these programs needs to grow.

Inventory 545
article thumbnail

What happens after the Fed’s rate hike?

Housing Wire

Both these laws paved the way for more responsible lending and a more responsible consumer. During the build-up to when the housing bubble burst, housing was getting noticeably weaker on many fronts. Currently, the housing market is in a recession: sales, production, jobs and incomes are all falling in the housing sector.

Law 522