Home Equity: A Source of Strength for Homeowners Today
Posted by Clayton Gits on Monday, November 14, 2022 at 9:30:02 AM
By Clayton Gits / November 14, 2022
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Home Equity: A Source of Strength for Homeowners Today
Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says:
“. . . don’t expect a housing bust like the mid-2000s, as lending standards in this housing cycle have been much tighter and homeowners have historically high levels of home equity, so there likely won’t be a surge in foreclosures.”
Data from the Mortgage...