Think This Is a Housing Crisis? Think Again.

Think This Is a Housing Crisis? Think Again. | MyKCM

With all of the unanswered questions caused by COVID-19 and the economic slowdown we’re experiencing across the country today, many are asking if the housing market is in trouble. For those who remember 2008, it’s logical to ask that question.

Many of us experienced financial hardships, lost homes, and were out of work during the Great Recession – the recession that started with a housing and mortgage crisis. Today, we face a very different challenge: an external health crisis that has caused a pause in much of the economy and a major shutdown of many parts of the country.

Let’s look at five things we know about today’s housing market that were different in 2008.

1. Appreciation

When we look at appreciation in the visual below, there’s a big difference between the 6 years prior to the housing crash and the most recent 6-year period of time. Leading up to the crash, we had much higher appreciation in this country than we see today. In fact, the highest level of appreciation most recently is below the lowest level we saw leading up to the crash. Prices have been rising lately, but not at the rate they were climbing back when we had runaway appreciation.Think This Is a Housing Crisis? Think Again. | MyKCM

2. Mortgage Credit

The Mortgage Credit Availability Index is a monthly measure by the Mortgage Bankers Association that gauges the level of difficulty to secure a loan. The higher the index, the easier it is to get a loan; the lower the index, the harder. Today we’re nowhere near the levels seen before the housing crash when it was very easy to get approved for a mortgage. After the crash, however, lending standards tightened and have remained that way leading up to today.Think This Is a Housing Crisis? Think Again. | MyKCM

3. Number of Homes for Sale

One of the causes of the housing crash in 2008 was an oversupply of homes for sale. Today, as shown in the next image, we see a much different picture. We don’t have enough homes on the market for the number of people who want to buy them. Across the country, we have less than 6 months of inventory, an undersupply of homes available for interested buyers.Think This Is a Housing Crisis? Think Again. | MyKCM

4. Use of Home Equity

The chart below shows the difference in how people are accessing the equity in their homes today as compared to 2008. In 2008, consumers were harvesting equity from their homes (through cash-out refinances) and using it to finance their lifestyles. Today, consumers are treating the equity in their homes much more cautiously.Think This Is a Housing Crisis? Think Again. | MyKCM

5. Home Equity Today

Today, 53.8% of homes across the country have at least 50% equity. In 2008, homeowners walked away when they owed more than what their homes were worth. With the equity homeowners have now, they’re much less likely to walk away from their homes.Think This Is a Housing Crisis? Think Again. | MyKCM

Bottom Line

The COVID-19 crisis is causing different challenges across the country than the ones we faced in 2008. Back then, we had a housing crisis; today, we face a health crisis. What we know now is that housing is in a much stronger position today than it was in 2008. It is no longer the center of the economic slowdown. Rather, it could be just what helps pull us out of the downturn.

99 Responses

  1. I loved as much as you will receive carried out right here. The sketch is tasteful, your authored subject matter stylish. nonetheless, you command get bought an nervousness over that you wish be delivering the following. unwell unquestionably come further formerly again since exactly the same nearly a lot often inside case you shield this increase.

  2. My partner and I absolutely love your blog and find nearly all of your post’s to be precisely what I’m looking for. Does one offer guest writers to write content available for you? I wouldn’t mind publishing a post or elaborating on some of the subjects you write concerning here. Again, awesome site!

  3. Hi, i feel that i saw you visited my weblog so i got here to go back the want?.I am trying to in finding things to improve my site!I assume its good enough to use some of your ideas!!

  4. Hi there, I found your web site by the use of Google whilst searching for a comparable matter, your web site got here up, it seems good. I have bookmarked it in my google bookmarks.

  5. I do believe that a foreclosure can have a important effect on the client’s life. Real estate foreclosures can have a 8 to ten years negative effects on a applicant’s credit report. The borrower who may have applied for home financing or almost any loans for that matter, knows that a worse credit rating is usually, the more hard it is to acquire a decent mortgage loan. In addition, it may possibly affect any borrower’s capability to find a really good place to lease or hire, if that will become the alternative houses solution. Good blog post.

  6. I don’t even know the way I stopped up here, however I thought this publish used to be good. I don’t recognize who you are however definitely you are going to a famous blogger if you are not already. Cheers!

  7. I have been surfing online more than three hours these days, yet I never found any fascinating article like yours. It’s pretty worth enough for me. Personally, if all site owners and bloggers made just right content as you did, the net shall be much more useful than ever before.

  8. When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get four emails with the same comment. Is there any way you can remove me from that service? Thanks!

  9. What’s up everyone, it’s my first visit at this website, and article is really fruitful in favor of me, keep up posting these posts.

  10. Excellent post. I was checking continuously this blog and I am impressed! Very useful information particularly the last part 🙂 I care for such info a lot. I was seeking this particular info for a long time. Thank you and good luck.

  11. [url=https://ma.by/away.php?url=https://vk.cc/cqucV6]omg рабочая зеркало

  12. Hi, Neat post. There is a problem with your web site in internet explorer, would check this? IE still is the market leader and a big portion of people will miss your wonderful writing because of this problem.

  13. You really make it seem so easy with your presentation but I find this topic to be really something which I think I would never understand. It seems too complicated and very broad for me. I am looking forward for your next post, I will try to get the hang of it!

  14. Amazing blog! Do you have any tips and hints for aspiring writers? I’m planning to start my own website soon but I’m a little lost on everything. Would you advise starting with a free platform like WordPress or go for a paid option? There are so many choices out there that I’m totally confused .. Any recommendations? Many thanks!

  15. Pretty section of content. I just stumbled upon your website and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Any way I’ll be subscribing to your augment and even I achievement you access consistently rapidly.

  16. Hi there, You have done a fantastic job. I will definitely digg it and personally suggest to my friends. I’m confident they’ll be benefited from this site.

  17. Excellent post however , I was wondering if you could write a litte more on this topic? I’d be very grateful if you could elaborate a little bit more. Appreciate it!

  18. Do you mind if I quote a couple of your posts as long as I provide credit and sources back to your website? My blog site is in the very same area of interest as yours and my visitors would truly benefit from a lot of the information you present here. Please let me know if this okay with you. Thank you!

  19. I believe what you postedwrotebelieve what you postedtypedsaidbelieve what you postedwrotebelieve what you postedwroteWhat you postedwrotesaid was very logicala bunch of sense. But, what about this?think about this, what if you were to write a killer headlinetitle?content?typed a catchier title? I ain’t saying your content isn’t good.ain’t saying your content isn’t gooddon’t want to tell you how to run your blog, but what if you added a titlesomethingheadlinetitle that grabbed a person’s attention?maybe get a person’s attention?want more? I mean %BLOG_TITLE% is a little plain. You ought to look at Yahoo’s home page and watch how they createwrite news headlines to get viewers to click. You might add a video or a pic or two to get readers interested about what you’ve written. Just my opinion, it could bring your postsblog a little livelier.

  20. I like the valuable information you provide in your articles. I will bookmark your weblog and check again here frequently. I am quite certain I will learn plenty of new stuff right here! Good luck for the next!

  21. I don’t even understand how I stopped up here, however I assumed this submit was good. I don’t realize who you are however definitely you are going to a famous blogger for those who are not already. Cheers!

  22. Hi! Someone in my Myspace group shared this site with us so I came to give it a look. I’m definitely enjoying the information. I’m book-marking and will be tweeting this to my followers! Superb blog and fantastic design and style.

  23. First off I want to say terrific blog! I had a quick question in which I’d like to ask if you don’t mind. I was curious to know how you center yourself and clear your mind before writing. I have had a difficult time clearing my mind in getting my thoughts out. I do enjoy writing but it just seems like the first 10 to 15 minutes are wasted just trying to figure out how to begin. Any ideas or tips? Cheers!

  24. This design is steller! You most certainly know how to keep a reader entertained. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Fantastic job. I really enjoyed what you had to say, and more than that, how you presented it. Too cool!

  25. Хотите получить идеально ровный пол в своей квартире или офисе? Обращайтесь к профессионалам на сайте styazhka-pola24.ru! Мы предоставляем услуги по устройству стяжки пола в Москве и области, а также гарантируем быстрое и качественное выполнение работ.

  26. Нужна стяжка пола в Москве, но вы не знаете, как выбрать подрядчика? Обратитесь к нам на сайт styazhka-pola24.ru! Мы предлагаем услуги по устройству стяжки пола любой площади и сложности, а также гарантируем быстрое и качественное выполнение работ.

  27. I’ve been exploring for a little bit for any high-quality articles or blog posts in this kind of space . Exploring in Yahoo I at last stumbled upon this site. Reading this info So i’m glad to show that I have a very just right uncanny feeling I came upon exactly what I needed. I such a lot unquestionably will make certain to don?t overlook this web site and give it a look on a constant basis.

  28. Ищете решение для ремонта? Механизированная штукатурка с mehanizirovannaya-shtukaturka-moscow.ru – это быстро, качественно и без пыли.

  29. With havin so much written content do you ever run into any problems of plagorism or copyright violation? My site has a lot of completely unique content I’ve either created myself or outsourced but it appears a lot of it is popping it up all over the web without my agreement. Do you know any techniques to help stop content from being ripped off? I’d definitely appreciate it.

  30. Amazing blog! Is your theme custom made or did you download it from somewhere? A design like yours with a few simple adjustements would really make my blog shine. Please let me know where you got your design. Cheers

  31. Hi there I am so thrilled I found your site, I really found you by error, while I was researching on Askjeeve for something else, Anyhow I am here now and would just like to say thank you for a incredible post and a all round thrilling blog (I also love the theme/design), I don’t have time to browse it all at the minute but I have book-marked it and also added in your RSS feeds, so when I have time I will be back to read much more, Please do keep up the awesome job.

  32. Hi there this is kinda of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding experience so I wanted to get advice from someone with experience. Any help would be greatly appreciated!

  33. Superb website you have here but I was curious about if you knew of any community forums that cover the same topics talked about in this article? I’d really love to be a part of online community where I can get suggestions from other knowledgeable individuals that share the same interest. If you have any recommendations, please let me know. Thank you!

  34. Can I just say what a relief to find a person that truly knows what they’re talking about online. You certainly understand how to bring an issue to light and make it important. More and more people have to look at this and understand this side of the story. It’s surprising you aren’t more popular because you certainly have the gift.

  35. Today, I went to the beach with my kids. I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She placed the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is completely off topic but I had to tell someone!

Leave a Reply

Your email address will not be published. Required fields are marked *

Send a Note to Marcus: