Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash

Written by Pompano Beach Mortgage Syndicated User on November 26, 2024. Posted in Equity, Foreclosures, Mortgage Rates, Pompano Beach Condo Financing, Pompano Beach Mortgage.

One major reason why we’re not heading toward a foreclosure crisis is the high level of equity homeowners have today. Unlike in the last housing bubble, where many homeowners owed more than their homes were worth, today’s homeowners have far more equity than debt.That’s a big part of the reason why even though mortgage debt is at an all-time high, this isn’t 2008 all over again. As Bill McBride, Housing Analyst for Calculated Risk, explains:“With the recent house price increases, some people are worried about a new housing bubble – but mortgage debt isn’t a concern . . .”Today’s homeowners are...

Why Today’s Foreclosure Numbers Won’t Trigger a Crash

Written by Pompano Beach Mortgage Syndicated User on October 25, 2024. Posted in Economy, Foreclosures, Pompano Beach Condo Financing, Pompano Beach Mortgage.

With everything feeling more expensive these days, it’s natural to worry about how rising costs might impact the housing market. Many people are concerned that high prices and tighter budgets could cause more homeowners to fall behind on their mortgage payments, leading to a wave of foreclosures.But before you start worrying about a housing market crash, here’s a look at what’s really happening. And the good news is: the latest foreclosure data shows there’s no wave on the horizon.How Today’s Market Is Different from 2008Let’s ease those fears by looking at the bigger picture. The graph below...

3 Reasons Why We’re Not Headed for a Housing Crash

Written by Pompano Beach Mortgage Syndicated User on August 3, 2024. Posted in Foreclosures, Infographics, Inventory, Pompano Beach Condo Financing, Pompano Beach Mortgage.

Some HighlightsBack in 2008, there was an oversupply of homes for sale. Today, there’s an undersupply. The three main sources of inventory show this isn’t like the last time.Existing homes, new homes, and foreclosures are all way below the levels we saw during the housing crash.Inventory data shows there just aren’t enough homes available to have a repeat of what happened back in 2008.

Why a Foreclosure Wave Isn’t on the Horizon

Written by Pompano Beach Mortgage Syndicated User on July 24, 2024. Posted in Forecasts, Foreclosures, Pompano Beach Condo Financing, Pompano Beach Mortgage.

Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets. And those high costs on everything from gas to groceries are fueling unnecessary concerns that more people are going to have trouble making their mortgage payments. But, does that mean there’s a big wave of foreclosures coming? Here’s a look at why the data and the experts say that’s not going to happen.There Aren’t Many Homeowners Who Are Seriously Behind on Their MortgagesOne of the main reasons there were so many foreclosures during the last housing crash was because relaxed lending...

Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008

Written by Pompano Beach Mortgage Syndicated User on July 9, 2024. Posted in Economy, Foreclosures, Inventory, Pompano Beach Condo Financing, Pompano Beach Mortgage.

Even if you didn’t own a home at the time, you probably remember the housing crisis in 2008. That crash impacted the lives of countless people, and many now live with the worry that something like that could happen again. But rest easy, because things are different than they were back then. As Business Insider says:“Though many Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond.”Here’s why experts are so confident. For the market (and home prices) to crash, there would have...

Foreclosure Numbers Are Nothing Like the 2008 Crash

Written by Pompano Beach Mortgage Syndicated User on April 25, 2024. Posted in Foreclosures, Pompano Beach Condo Financing, Pompano Beach Mortgage.

If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up. And that may leave you feeling a bit worried about what’s ahead, especially if you owned a home during the housing crash in 2008.The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed.Here’s the latest information stacked against the historical data to put your mind at ease.The Headlines Make the Increase Sound Dramatic – But It’s NotThe increase the media is calling attention to is...

Homeowners Today Have Options To Avoid Foreclosure

Written by Pompano Beach Mortgage Syndicated User on March 20, 2024. Posted in Foreclosures, Pompano Beach Condo Financing, Pompano Beach Mortgage.

Even with the latest data coming in, the experts agree there’s no chance of a large-scale foreclosure crisis like the one we saw back in 2008. While headlines may be calling attention to a slight uptick in foreclosure filings recently, the bigger picture is that we’re still well below the number we’d see in a more normal year for the housing market. As a report from BlackKnight explains:“The prospect of any kind of near-term surge in foreclosure activity remains low, with start volumes still nearly 40% below pre-pandemic levels.”That’s good news. It means the number of homeowners at risk is...

Why There Won’t Be a Recession That Tanks the Housing Market

Written by Pompano Beach Mortgage Syndicated User on March 6, 2024. Posted in Foreclosures, Housing Market Updates, Pompano Beach Condo Financing, Pompano Beach Mortgage.

There’s been a lot of recession talk over the past couple of years. And that may leave you worried we’re headed for a repeat of what we saw back in 2008. Here’s a look at the latest expert projections to show you why that isn’t going to happen. According to Jacob Channel, Senior Economist at LendingTree, the economy’s pretty strong:“At least right now, the fundamentals of the economy, despite some hiccups, are doing pretty good. While things are far from perfect, the economy is probably doing better than people want to give it credit for.”That might be why a recent survey from the Wall Street...

There’s No Foreclosure Wave in Sight [INFOGRAPHIC]

Written by Pompano Beach Mortgage Syndicated User on February 3, 2024. Posted in Foreclosures, Infographics, Pompano Beach Condo Financing, Pompano Beach Mortgage.

Some HighlightsHeadlines saying foreclosures are rising might make you feel uneasy. But the truth is, there’s no need to worry.If you look at the latest numbers, they’re still below pre-pandemic norms and way below what happened during the crash.If you’re worried about a flood of foreclosures, the data shows a foreclosure crisis is not where the market is today and is not where it’s headed.

Foreclosure Activity Is Still Lower than the Norm

Written by Pompano Beach Mortgage Syndicated User on February 1, 2024. Posted in Foreclosures, Housing Market Updates, Pompano Beach Condo Financing, Pompano Beach Mortgage.

Have you seen headlines talking about the increase in foreclosures in today’s housing market? If so, they may leave you feeling a bit uneasy about what’s ahead. But remember, these clickbait titles don’t always give you the full story.The truth is, if you compare the current numbers with what usually happens in the market, you’ll see there’s no need to worry.Putting the Headlines into PerspectiveThe increase the media is calling attention to is misleading. That’s because they’re only comparing the most recent numbers to a time where foreclosures were at historic lows. And that’s making it sound...

Category: Foreclosures