But Elkhart also symbolizes the failure of federal efforts to turn around the housing slump at the heart of the economic crisis. Housing in this community has become almost entirely dependent on a string of federal support programs, which are nonetheless failing to prevent a fall in prices and a rise in mortgage delinquencies. More than one in 10 mortgage holders in Elkhart is seriously behind on payments. The median sales price has plunged to the level of a decade ago. Many homeowners owe more than their home is worth, freezing them in place for years. Foreclosures recently hit a record. To the extent that the real estate market is functioning at all, people here say, it is doing so only because of the emergency programs, which have pushed down interest rates on mortgages and offered buyers a substantial tax credit.
Paul Jackson is the former publisher and CEO at HousingWire.see full bio
Most Popular Articles
Foreclosures climb 21% in first half of 2026, pushed by higher stress in FHA, VA mortgages
U.S. foreclosure activity rose again in the first half of 2026, with 227,548 properties receiving filings, up 21% from the same period in 2025, according to ATTOM’s midyear foreclosure report.
Jul 16, 2026
-
The housing market’s inventory rebound is shifting power to buyers, but not everywhere
Jul 17, 2026 -
UHM acquires AmeriTrust assets, expands non-QM footprint
Jul 17, 2026 -
Can the housing market weather Iran conflict 2.0 and higher rates?
Jul 18, 2026 -
Mortgage volumes point to bank share gains in Q2
Jul 20, 2026 -
The housing market not normalizing, as affordability failure persists
Jul 20, 2026
Latest Articles
The architecture of trust in the age of AI
Mortgage accountability depends on reconstructable processes, but many AI tools do not preserve decision records in an auditable way. In a multi-vendor stack, the risk concentrates at interfaces, increasing compliance and repurchase exposure.
-
For better building codes, a more deliberate course is overdue
-
Will Trump’s new Canadian tariffs add cost risk for builders?
-
D.R. Horton bets operating rigor will outperform uncertain demand
-
The JMG acquisition gives teams leverage, but not equal valuations
-
Investors list more homes after ROAD to Housing Act, but impact may stay local
Paul Jackson is the former publisher and CEO at HousingWire.see full bio