There are some lessons the mortgage industry learned the hard way. We learned what happens when loans are made without adequately documenting income. We learned what happens when borrowers are qualified into products they do not understand or cannot reasonably afford....
For several years now, nearly every serious discussion about housing affordability has eventually arrived at the same conclusion: America needs more homes. I don’t disagree with that conclusion. What bothers me is how often we stop the conversation there, as...
I have lost track of how many times housing has supposedly been six months away from getting better. There is always another forecast. Rates are going to come down in the spring. Buyers will return after some future event. Inventory will improve next year. The Fed...
I keep hearing some version of the same conversation in housing. When the Fed finally gets rates down, buyers will come back. Mortgage rates will improve. Transactions will pick up. Maybe we can finally get this market moving again. I understand why people think that...
Housing affordability in California declined in the second quarter after reaching a four-year high in the previous quarter, according to data from the California Association of Realtors (CAR). During the second quarter, 19% of the state’s homebuyers could afford...
Pending Home Sales Slide to Nearly Three-Year Low as Buyers Pull Back
