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What Distinguishes Today’s Housing Slump From the 2008 Collapse?

Pro Builder

What Distinguishes Today’s Housing Slump From the 2008 Collapse? With much less financial risk-taking and an increase in equity wealth, today's buyers and homeowners are much more prepared to handle a housing downturn than they were in 2008. Thu, 09/08/2022 - 09:42.

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Mortgage Equity Withdrawals Surge Amid Record Housing Wealth

Pro Builder

Mortgage Equity Withdrawals Surge Amid Record Housing Wealth. Net equity extractions are on the rise as home prices keep climbing, but homeowners could soon slow their borrowing activity due to higher mortgage rates. For Q1 2022, the Net Equity Extraction was $131 billion, or 2.87% of Disposable Personal Income (DPI).

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Is a Foreclosure Crisis Looming Ahead of 2023?

Pro Builder

Today’s homeowners are backed by significant equity and a strong job market, and today’s lending practices are far less risky than they were in 2007 and 2008, meaning the current housing market isn’t likely to slip back into a foreclosure crisis even as foreclosure proceedings rise nationwide. .

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Rising Home Values Are Giving U.S. Homeowners Record High Housing Wealth

Pro Builder

Nearly half of all homeowners were considered equity-rich at the end of 2021 after a $2.6 trillion gain in tappable equity. Even those not listing their homes for sale gained significant equity. At the end of 2021, 42% of homeowners were considered equity-rich with mortgages half or less than half the value of their homes.

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A Housing Slowdown Is Underway, but This Downturn Is Nothing Like the Last One, Experts Say

Pro Builder

The housing market is finally cooling off after a mid-pandemic hot stretch, but today's market is much more stable than the bubble and bust buying landscape of 2008. Wed, 06/22/2022 - 11:49.

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Latinx Americans Push Up Total U.S. Homeownership Rates

Pro Builder

Latinx homeownership rates have continually increased since 2008, taking total homeownership up with it. With fewer assets to draw on, it was harder for them to hold onto their homes if and when their homes fell into negative equity, if they lost a job and/or if they otherwise couldn’t make ends meet. Homeownership Rates. cbroderick.

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Increasing Home Values Lift 1 Million Homes from 'Underwater' Status

Pro Builder

On the flip side, “equity-rich” homes that have a value at least double the loan balance, increased by 4.2 At a more granular level, there are three zip codes in the Cleveland area where roughly half of all homes still have negative equity. Now, with home values up, there remains 2.25 million underwater homes, but it’s down from 3.5

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