Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

A red flag for another housing bust?

Notify me of new replies via email
Mortgage Professional America | 14 Jul 2016, 12:14 PM Agree 0
Third-party investors are snapping up foreclosures in greater and greater numbers – a practice that’s unpleasantly familiar as one of the harbingers of the 2007 housing bust, warns one expert
  • Been Through This Before | | 14 Jul 2016, 12:34 PM Agree 0
    Disagree. After Dodd Frank, TRID and tons of additional regulation in the mortgage world, this time through "Mom and Pop" investors are required to fully document their income and assets, and prove that they have employment to support their investments. Not the same.
  • Griff | | 14 Jul 2016, 12:49 PM Agree 0
    In my neck of the woods a housing bust is not beyond happening. I'm starting to see some asking prices lowered. I've seen homes in the last 9 months or so sell for 40% more, and even double what they would have a year ago. I would not want to be someone buying those homes.
  • SBHarkness | | 18 Jul 2016, 03:42 PM Agree 0
    Griff, what "neck of the woods" are you from as you say. I live in a town called Bremerton that is 17 miles west of Seattle. At the start of Spring last year in Kitsap County where I live we had 1000 more listings than we do this year. This causes me to raise an interested eye. You see in Kitsap County you have to look at what the median wage then compare that to home prices. Just 17 miles East in Seattle a home that would sell here for the mid to upper 200's would sell in Seattle for the middle to upper $500's. The key factor is a body of water called the Puget Sound that separates Seattle from Bremerton. It takes one hour to commute by ferry and by car...........forget about it. We have some traffic here that is as bad as anywhere in the Country. Also, in Seattle the type of jobs that are available allow young couples to pay the prices asked for the homes. However, I am watching vigilantly. That's why I am asking about home prices and where you live.
Post a reply