Housing Wire
JANUARY 20, 2023
The one period where this didn’t happen was from 2006-2011, when credit forced Americans to sell, to rent or to be homeless. 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
DECEMBER 7, 2020
The monthly housing supply for the existing home sales has only gone above six months during the bust years after the housing bubble (2006-2011). This period was also during a lull in our prime-age labor force growth, so demand was soft during the years 2006-2011. million jobs lost. Hard pass.
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Empire Appraisal Group
SEPTEMBER 8, 2022
The housing market is entering the ‘most significant contraction in activity since 2006,’ says Freddie Mac economist” (Fortune). Or to discourage mortgage brokers from lending. “Scary times: builders are slashing home prices and slowing construction as buyers pull back, survey shows” (MarketWatch).
McKissock
MARCH 15, 2022
Buyers, many out-of-state, were purchasing homes with cash but were not living in them, which increased values from 2004 to 2006 because of competition, but it also indicated that a possible real estate bubble was in the very foreseeable future. Use of creative financing such as seller contracts.
Appraisal Today
DECEMBER 22, 2023
Licensees have fallen from about 20,000 in 2006-2007 to under 9,000 now. So is a network of contacts in all areas of the real estate industry, not just the lending community. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.83 percent from 7.07
Appraisal Today
JUNE 10, 2022
The Inevitable Cyclicality of Mortgage Lending. “Unlike in 2006, this market is underpinned by strong fundamentals and has been built on mortgages with sound credit, factors that won’t change in the near term.” The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 5.30
Appraisal Today
AUGUST 5, 2022
Excerpts: Lending was not very prudent prior to the crash of 2008 as suggested by the trend in the median credit score (FICO), a measure for credit worthiness; for newly originated first-time purchase mortgages the median FICO score was 686 in Q1 2006 versus 740 in Q4 2020. Find out why not. By Reena Agrawal, PhD, Research Economist.
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