The long-awaited housing price rebound is arriving. After eight years, more and more real estate markets are reaching or exceeding the prices they achieved at the peak of the housing boom in 2007. How long will it be until the recovery is complete?
The holiday season and early winter storms did little to affect top markets, as the number of top 100 markets to reach or surpass their peak prices at the height of the boom in 2007 increased to 29 markets.
California housing markets, which have dominated the home price gain charts year-over-year, are losing steam to southern markets as those areas benefit from a new supply of jobs and stable local economies.
Sometimes offshoring sounds like a bad word. In reality, offshore mortgage servicing simply means using remote staff, usually to take advantage of lower labor and overhead costs and round-the-clock staffing availability. But legitimate questions remain. In the midst of increasing compliance pressures, is offshoring a sound strategy for mortgage servicers looking to stay competitive, or a fast track to dissatisfied customers and trouble with the CFPB?
Houses that have been rehabbed in the recovery project are now being sold as quickly as they are completed, and the profit on each house goes right into rehabbing the next one. In the past two years, the company has rehabbed and sold 58 homes, and has plans to do 200 more.
The fate of the Fannie and Freddie investors is not our concern. We are concerned about what happens to communities. And what is happening right now is that the future ability of working class families to obtain responsible home loans is in serious jeopardy.