Closing Complex Loans Faster With a Digitized Client Workflow

Join us for a discussion on changes in market demographics, suppliers and how focusing on customer experience and a few simple steps during the mortgage loan process can close deals 3x faster.

engage.marketing event: All eyes on purchase

To help power your business forward, we’re bringing together the smartest minds in purchase mortgage marketing to share the insights, tactics and strategies that set leaders apart.

Home appraisal’s ugly history and uncertain future

This is Part I of a deep dive into the home appraisal industry. Today we explore the origins of the appraisal industry and its current lack of diversity.

The digital journey starts at acquisition

Download this white paper to learn how to build a tech-enabled acquisition strategy that will directly contribute to a lender’s ability to maximize profitability and remain competitive.

Mortgage

This MBA chart shows the real impact of the recession on homeownership

Young buyers taken out of the market

The latest chart in this Mortgage Bankers Association’s series shows one area that was deeply impacted by the financial recession and the effects that the housing market is still dealing with.

Spoiler alert: The chart echoes what most of the industry already knows: Millennials are not buying. 

But, as it turns out, they aren't the only ones. 

And as you can see below, for the last 10 years, most under-50 year old Whites are classified in negative territory:

Click to enlarge

Chart

Source: MBA

The MBA chart cuts straight to the heart of household demand, which is falling desire to participate in household formation.

The chart shows that household formation was negative for households with at least one adult under the age of 50 between 2004 and 2014.

According to the MBA’s report:

Some of the loss in household formation was due to job loss and financial woes – individuals “doubled up” and young people moved back home to save money resulting in fewer households. There was also a net loss of population between the ages of 35 and 49 after the Baby Boomers advanced into older age during this period. The simultaneity of the ill effects of the recession on younger people and the dip in the population of prime home-owning age households has contributed to single-family housing’s slow recovery.

But it’s not all bad news. The MBA expects household formation and housing demand to strengthen this year thanks to recent reports showing increases in formation. 

Most Popular Articles

Fannie Mae, and the housing market’s inflation problem

Another month of steadily increasing home prices and insatiable demand led Fannie Mae’s Economic and Strategic Research Group to alter many of its 2021 predictions – in particular, its outlook on the symbiotic relationship between the housing market and inflation measures.

Jun 16, 2021 By

Latest Articles

Doug Duncan and the housing market’s supply conundrum

The housing market has suffered due to high material prices, spend-anything buyers & a lack of supply. A return to normalcy will require big changes. HW+ Premium Content

Jun 18, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please