According to an article in the Washington Post, 2016 will see trends that will impact our financial stake in housing.
Homeowners should benefit from another year of gains, which moved steadily higher throughout 2015. “With a bit of luck, prices nationwide could reach close to the all-time peaks seen in the housing bubble a decade ago.” Unlike
Homeowners should benefit from another year of gains, which moved steadily higher throughout 2015. “With a bit of luck, prices nationwide could reach close to the all-time peaks seen in the housing bubble a decade ago.” Unlike
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the bubble, however, these prices are based on homeowner incomes and other solid factors. Negative equity is becoming a thing of the past, predicted to be around 5 million homeowners by the end of 2016 (down from a high of 17 million at the height of the housing crisis). Overall, market conditions and borrower circumstances provide a
good environment for owners who want to sell.
Homebuyers in 2015, were met with higher prices and small inventories, but 2015 should prove to be a bit easieron that front, due to increased incomes, low rates, and easier credit. First-time buyers should especially benefit from the Federal Housing Administration’s fee cuts (to possibly continue into 2016). They may also see lowered credit requirements from Fannie and Freddie as conditions normalize.
Renters will continue to suffer from high rents in most parts of the country, as demand is fueled by “the millennials who are finally finding jobs and striking out on their own, along with households that have lost their homes in foreclosure, and more empty-nesters looking to downsize and simplify.”
Homebuyers in 2015, were met with higher prices and small inventories, but 2015 should prove to be a bit easieron that front, due to increased incomes, low rates, and easier credit. First-time buyers should especially benefit from the Federal Housing Administration’s fee cuts (to possibly continue into 2016). They may also see lowered credit requirements from Fannie and Freddie as conditions normalize.
Renters will continue to suffer from high rents in most parts of the country, as demand is fueled by “the millennials who are finally finding jobs and striking out on their own, along with households that have lost their homes in foreclosure, and more empty-nesters looking to downsize and simplify.”
