Thursday , 8 October 2015
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Crisis Watch

In 10 Years, 13 Million Households will spend half their income on rent


The crisis in housing affordability will only get worse in the deceased to come, according to new research by the Joint Center for Housing Studies at Harvard and Enterprise Community Partners Inc (Enterprise).  The number of households spending more than 50 percent of their income on rent is expected to rise at least 11 percent from 11.8 million to 13.1 million by ... Read More »

Homeowners’ Equity Takes Big Leap Forward


Only 9 million out of 50 million mortgaged homes still have less than 20 percent equity at the end of the second quarter, a decline of 700,000 homes from the first quarter.  The percentage of under equitied homeowners fell from 19.9 percent to 17.8 percentage of homes with a mortgage, CoreLogic reported today. Borrowers who are “under-equitied” may have a ... Read More »

Condos Struggle to Recover


  Appreciating home values in the bottom third of the market helped pull more homeowners out of negative equity in the second quarter of 2015, but condos were more likely than houses to be underwater , according to the Zillow® Negative Equity Report. •             The U.S. rate of negative equity among mortgaged homeowners continued to drop in the second quarter ... Read More »

Foreclosure Starts Fall but Repos Rise


Foreclosure activity rose in July, up 7 percent from the previous month and up 14 percent from a year ago. July was the fifth consecutive month with a year-over-year increase in overall foreclosure activity following 53 consecutive months of decreases. “The increase in overall foreclosure activity over the last five months has been driven primarily by rapidly rising bank repossessions, ... Read More »

Wake-Up Call: Depreciation Soars in Top Markets

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Though rising median home prices paint a favorable picture of current housing markets, the population of houses losing over 2 percent of value per year has increased to 24 percent from just 6 percent a year ago in ten of the nation’s largest markets. According to June data, in three major urban markets–New York City, Washington DC and Chicago–more than ... Read More »

The Dry Rot in America’s Housing Stock: A Sad Legacy of the Foreclosure Era


  What would an influx of 3.8 million entry-level homes do for housing affordability? Limited inventory and strong demand continue to push home prices higher in America’s hottest housing markets, leading to declining affordability.  Forecasters are raising their predictions as tight inventories of homes, particularly lower priced properties, keep first-time buyers on the sidelines. Those 3.8 million homes, nearly twice ... Read More »

Some 5.7 Million Crash Victims Still Feel the Pain


Though about five million families lost their homes to foreclosure from 2009 to 20013, some seven million consumers’credit was negatively impacted by the housing crash.  Today, only 1.2 million, or 18 percent, have completely recovered.  But over the next five years some 2.2 million of the remaining 5.7 million unrecovered consumers could meet agency underwriting guidelines, according to a report from ... Read More »

First April Report: Midwest Trails the Recovery

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    The Midwest is disappointing forecasters who called for a strong recovery this year–through April the region remains volatile, according to Clear Capital’s take on April market data.  At the end of the first quarter, the Midwest is already seeing negative quarterly declines of -0.10%. For nearly seven years, it has struggled to get on equal footing with the ... Read More »

Homeownership Falls Farthest among Middle Aged Adults


Homeownership has fallen farther and faster among adults in the middle age bracket than among younger Millennials whose attitudes towards homeownership have been the focus of attention among housing professionals, according to the newest Census data.  Though only about 34.6 percent of adults under 35 own a home, the percentage of those in the 35-44 year old bracket who own ... Read More »

Spring is Here and Banks Clean House(s)


  Foreclosures soared in March, jumping 20 percent from a 104-month low in February increasing for the first time on a year-over-year basis in four and a half years, since September 2010. Foreclosure filings hit a total of 122,060 U.S. properties with foreclosure filings in March, according to RealtyTrac’s quarterly foreclosure report. The increase was driven primarily by a jump ... Read More »

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