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Housing Crisis – Half Empty or Half Full?

Housing Crisis – Half Empty or Half Full?
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Mortgage news show you the doom and gloom about housing industry and some times you come across with the descriptions of worst housing situations. As everyone knows that a coin has two sides so it’s up to you whether you go for the positive side or negative. However, it will be good to pint out only potential mortgage news rather than worst.


Some latest updates about the negative aspects of real estate are given in this articles which are as follows:

1. The latest survey made in United Sates shows that by the end of 2012 there could be up to eight million foreclosures.

2. By 2010, more than 10 million homeowners will pay more than their house is worth.

3. The current volume of inventory of homes for sale would be doubled by the end of 2012.

4. The median price is going to be dropped more than 20 percent in different areas of the world.

5. The construction market will not remain the same as it was before a few years back and the construction of new houses will be dropped more than 67%.

However, there are also some positive perspectives of mortgage news even in the situation of housing crises which are as follows:

1.      Mortgage lenders are now using conservative underwriting guidelines thus providing low risks of default in mortgage loans.

2.      The interest rates would remain low which are allowing refinancers to buy homes with more affordable rates.

3.      The prices of home are no more expensive and even a new home buyer can afford a new house easily.

 

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About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

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