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With home prices nearly back to where they were when the housing crisis began, CoreLogic's principal economist Molly Boesel compares the duration of the recent cycle to those of other downturns. While there hasn't been a comparable period of performance nationwide, she looks at several regional ones. After hitting peak in 2006, the national price level fell for five years , finally reaching bottom in March 2011. Most other sources set the date for the bottom of the market to exactly a year later which may indicate they are using inflation adjusted numbers. From peak to trough, prices fell 33 percent nationally. As of July 2017, CoreLogic data shows prices were approximating the 2006 level. Boesel compares these numbers to those of the Texas oil bust in the mid-1980's which resulted in a 16
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Housing News
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With home prices nearly back to where they were when the housing crisis began, CoreLogic's principal economist Molly Boesel compares the duration of the recent cycle to those of other downturns. While there hasn't been a comparable period of performa... (read more) |
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Housing News
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The Mortgage Bankers Association (MBA) is forecasting that a significant decline in new home sales occurred last month. However, like much of the other September housing data that has been released so far, it appears that Hurricanes Harvey and Irma a... (read more) |
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Rob Chrisman
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The driving force of housing prices is supply and demand, and the demand is increasing. In the Bay Area, and for hundreds of miles north, the smoke is everywhere, reminding one of the 23 (and counting) who perished and 3,500 (and counting) houses and... (read more) |
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MBS Commentary
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CPI, CPI, CPI...
The "Consumer Price Index" is the one thing on this week's economic calendar that stood out as a top tier potential market mover. After a few revisions, the lowest-in-years reading of 1.6% for "Core CPI" became 1.7% in Jun... (read more) |
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Mortgage Rate Watch
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Mortgage rates haven't done much over the past few days, with the average lender offering substantially similar quotes every day in October. Depending on your perspective, that could be good or bad. On the positive side, the lack of movement means th... (read more) |
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MBS Commentary
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"Well? Get on with it!"
That about sums up what the average bond market watcher was thinking at the end of September--and possibly again after today's trading session. At the end of September, a run toward higher yields res... (read more) |
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