Jump to content
House Price Crash Forum
Sign in to follow this  

Bear Market Emerging In America

Recommended Posts

Rise In Home Foreclosures Make Buying Cheaper

(CBS4) DENVER Foreclosures have had an impact on the home selling market by driving housing inventories up to record levels, meaning even with rising interest rates, it's a good time to buy.

By most accounts, it's a buyers market in metro Denver. There's a record 29,000 homes for sale which is a 19 percent increase since May of last year.

"I think that part of the foreclosure stuff is self-inflicted because we in the industry, started about five or six years ago, started doing a lot of interest-only financing, and in my mind, are a tool for a sophisticated person and not a tool for a first-time homebuyer," said Jim Hatfield, a Re/Max broker manager.

Risky financing encouraged homebuyers to over-borrow and eventually put them at risk of foreclosure in the event of a layoff or job loss.

The starter home market with prices between $175,000 and $225,000 are seeing the most foreclosures and that's the price range that's among the hardest to currently sell.


Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.