Lending Standards Are Not Like They Were Leading Up to the Crash
In 2004, the index was around 400. But, by 2006, it had gone up to over 850. Today, the story is quite different. Since the crash, the index went down because lending standards got tighter, so today it’s harder to get a mortgage. Loose Lending Standards Contributed to the Housing Bubble One of the m
Why The Median Home Price is Meaningless in Today's Market
In both cases, a nickel is still worth five cents and a dime is still worth 10 cents. The value of each coin didn’t change. That’s why using the median home price as a gauge of what’s happening with home values isn’t worthwhile right now. Most buyers look at home prices as a starting point to determ
A Drop in Equity Doesn't Mean Low Equity
And there’s more good news. Recent home price reports show the worst home price declines are behind us, and prices have started to go up again. As Selma Hepp, Chief Economist at CoreLogic, explains: “Home equity trends closely follow home price changes. As a result, while the average amount of equit
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