4 Maps Show Exactly What Happened After The Housing Crash

Dated: May 19 2014

Views: 363

The effect on homeowners of the housing bubble and crash is pretty well reported.

But what about the big picture?

In 2006, the housing market crashed, and from 2007 to 2009, the value of real estate owned by households fell by nearly $6 trillion.

The economy in general hasn’t been doing too well since then – this is the longest it's ever taken to recover from a recession, if you want to call it a recovery – and there doesn’t seem to be any big boosts on the horizon.

Just last week mortgage rates hit a six-month low of 4.2%.
Job growth continues to disappoint, affordability remains an issue and sales of almost all single-family home types are weak. Mortgage applications are slow. Wage stagnation remains a challenge for both housing and for the economy in general.
Here’s a good look at how we got here, as seen in these four maps provided by VisualizingEconomics. Read More Here...
cb
Blog author image

Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....

Latest Blog Posts

Why Fall Is A Great Time To Plant In Oregon Gardens

Come spring, excited gardeners drive to nurseries, load up their cars and go home to plant. That’s tradition. But fall planting also ranks high as a time to put plants in the ground.Nurseries may

Read More

Fannie Mae Cuts Origination Forecast For 2022

Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022

Read More

How Long Does A Home Seller Have To Respond To An Offer

When you make an offer on a house, you might be wondering: How long does it take a home seller to respond to your offer?There’s nothing worse than sitting around waiting—especially when you’re

Read More

Forbearance Numbers Fall As Borrower Exits Remain High

Servicers’ forbearance portfolio volume fell once again last week, as exits remained elevated compared to requests or re-entries. The total number of loans in forbearance dropped by eight basis

Read More