WOW, it is crazy how divided articles, economists, housing experts, and the media are so split on this TOPIC. I am seeing people that I know or follow that study data say “it is a buyer’s market”. I am also seeing articles, news, etc. from smart people saying we are going to have 2008 like CRASH in some markets. They seem to be talking about a hypothetical future based on guessing because I do NOT see the data supporting a housing crash.
What do you think?
Let’s look at some of the DATA:
Properties on the market: As of Dec 2022, it was 970K and about 200K + were in escrow
Borrower profile: The higher the number below the easier it is to get a MORTGAGE, so HIGH is BAD.
ARM products: Many ARM loans were option arms, neg amortization loans and had teaser rates for 1 or 2 years.
Debt to income:
Foreclosures and Short Sales:
