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

Written by Merritt Island FL Mortgage Syndicated User on August 3, 2024. Posted in Foreclosures, Infographics, Inventory, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

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 Merritt Island FL Mortgage Syndicated User on July 24, 2024. Posted in Forecasts, Foreclosures, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

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 Merritt Island FL Mortgage Syndicated User on July 9, 2024. Posted in Economy, Foreclosures, Inventory, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

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 Merritt Island FL Mortgage Syndicated User on April 25, 2024. Posted in Foreclosures, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

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 Merritt Island FL Mortgage Syndicated User on March 20, 2024. Posted in Foreclosures, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

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 Merritt Island FL Mortgage Syndicated User on March 6, 2024. Posted in Foreclosures, Housing Market Updates, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

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 Merritt Island FL Mortgage Syndicated User on February 3, 2024. Posted in Foreclosures, Infographics, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

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 Merritt Island FL Mortgage Syndicated User on February 1, 2024. Posted in Foreclosures, Housing Market Updates, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

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...

Foreclosures and Bankruptcies Won’t Crash the Housing Market

Written by Merritt Island FL Mortgage Syndicated User on November 1, 2023. Posted in Foreclosures, Housing Market Updates, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

If you’ve been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies. That could be making you feel uneasy, especially if you’re thinking about buying or selling a house.But the truth is, even though the numbers are going up, the data shows the housing market isn’t headed for a crisis.Foreclosure Activity Rising, but Less Than Headlines SuggestIn recent years, the number of foreclosures has been very low. That’s because, in 2020 and 2021, the forbearance program and other relief options were put in place to help many homeowners...

Why Today’s Housing Inventory Shows a Crash Isn’t on the Horizon

Written by Merritt Island FL Mortgage Syndicated User on September 28, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Merritt Island FL, Merritt Island FL Condo Financing, Merritt Island FL Mortgage Rates.

You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008.One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening.Housing supply comes from three main sources:Homeowners deciding to sell their housesNewly built...

Category: Foreclosures