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What’s Different about the Latest Housing Boom?

Home Forums General Columbus Discussion What’s Different about the Latest Housing Boom?

This topic contains 4 replies, has 5 voices, and was last updated by derm derm 3 years, 9 months ago.

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  • #1102546

    News
    Participant

    November 16, 2015
    What’s Different about the Latest Housing Boom?
    Reuven Glick, Kevin J. Lansing, and Daniel Molitor

    After peaking in 2006, the median U.S. house price fell about 30%, finally hitting bottom in late 2011. Since then, house prices have rebounded strongly and are nearly back to the pre-recession peak. However, conditions in the latest boom appear far less precarious than those in the previous episode. The current run-up exhibits a less-pronounced increase in the house price-to-rent ratio and an outright decline in the household mortgage debt-to-income ratio—a pattern that is not suggestive of a credit-fueled bubble.

    READ MORE: http://www.frbsf.org/economic-research/publications/economic-letter/2015/november/what-is-different-about-latest-housing-boom-mortgage-debt-ratio/

    #1103278
    Posole
    Posole
    Participant

    It’s mostly rental housing. Because everyone is still stinging from the mortgage foreclosures.

    #1103283
    Walker Evans
    Walker Evans
    Keymaster

    Because everyone is still stinging from the mortgage foreclosures.

    That, plus the fact that the two current biggest generational demographics (Millennials + Boomers) are both looking for rentals rather than mortgages right now anyway, prior foreclosure issues or not.

    #1103293

    pedex
    Participant

    that and it is almost 100% backed/underwritten by the GSE’s and almost zero private lending

    and the GSE’s recently warned they will need more $$

    #1103296
    derm
    derm
    Participant

    That plus a significant number of purchases in the last few years to generate the rentals were cash purchases, no mortgage, from large holding companies.

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