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

Written by Jupiter Island Mortgage Syndicated User on August 3, 2024. Posted in Foreclosures, Infographics, Inventory, Jupiter Island Florida Mortgage Rates, Jupiter Island 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 Jupiter Island Mortgage Syndicated User on July 24, 2024. Posted in Forecasts, Foreclosures, Jupiter Island Florida Mortgage Rates, Jupiter Island 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 Jupiter Island Mortgage Syndicated User on July 9, 2024. Posted in Economy, Foreclosures, Inventory, Jupiter Island Florida Mortgage Rates, Jupiter Island 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 Jupiter Island Mortgage Syndicated User on April 25, 2024. Posted in Foreclosures, Jupiter Island Florida Mortgage Rates, Jupiter Island 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...

Foreclosures and Bankruptcies Won’t Crash the Housing Market

Written by Jupiter Island Mortgage Syndicated User on November 1, 2023. Posted in Foreclosures, Housing Market Updates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage.

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 Jupiter Island Mortgage Syndicated User on September 28, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage.

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...

Don’t Expect a Wave of Foreclosures [INFOGRAPHIC]

Written by Jupiter Island Mortgage Syndicated User on August 19, 2023. Posted in Foreclosures, Infographics, Interest Rates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage.

Some HighlightsWith ongoing high inflation pushing up everyday costs, some people are worried that’ll create a flood of foreclosures. Here’s why that’s unlikely. Fewer people are seriously behind on mortgage payments right now. If foreclosures were going to rise a lot, more people would need to be late on their payments.Since most are paying on time, a wave isn’t coming. If you’re concerned about a flood of foreclosures, the data shows that’s not likely.

Don’t Expect a Flood of Foreclosures

Written by Jupiter Island Mortgage Syndicated User on August 17, 2023. Posted in Buying Myths, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, Selling Myths.

The rising cost of just about everything from groceries to gas right now is leading to speculation that more people won’t be able to afford their mortgage payments. And that’s creating concern that a lot of foreclosures are on the horizon. While it’s true that foreclosure filings have gone up a bit compared to last year, experts say a flood of foreclosures isn’t coming.Take it from Bill McBride of Calculated Risk. McBride is an expert on the housing market, and after closely following the data and market environment leading up to the crash, he was able to see the foreclosures coming in 2008....

Four Ways You Can Use Your Home Equity

Written by Jupiter Island Mortgage Syndicated User on August 8, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Foreclosures, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage, Move-Up Buyers.

If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the ‘unicorn’ years, you’ve likely gained more than you think.According to the latest Equity Insights Report from CoreLogic, the average homeowner has more than $274,000 in equity right now. That much equity can help you achieve certain goals. In a recent article, Bankrate elaborates: “While the pandemic created serious challenges, the silver lining for anyone who owned a home was...

Foreclosure Numbers Today Aren’t Like 2008

Written by Jupiter Island Mortgage Syndicated User on July 25, 2023. Posted in Distressed Properties, For Buyers, Foreclosures, Housing Market Updates, Jupiter Island Florida Mortgage Rates, Jupiter Island Mortgage.

If you’ve been keeping up with the news lately, you’ve probably come across headlines talking about the increase in foreclosures in today’s housing market. This may have left you with some uncertainty, especially if you’re considering buying a home. It’s important to understand the context of these reports to know the truth about what’s happening today.According to a recent report from ATTOM, a property data provider, foreclosure filings are up 2% compared to the previous quarter and 8% since one year ago. While media headlines are drawing attention to this increase, reporting...

Category: Foreclosures