Is Family Mortgage Debt Out of Control?
Some homeowners have recently done a “cash out” refinance and have taken a portion of their increased equity from their house. Others have sold their homes and purchased more expensive homes with larger mortgages. At the same time, first-time buyers have become homeowners and now have mortgage payments for the first time.
These developments have caused concern that families might be reaching unsustainable levels of mortgage debt. Some are worried that we may be repeating a behavior that helped precipitate the housing crash ten years ago.
Today, we want to assure everyone that this is not the case. Here is a graph created from data released by the Federal Reserve Board which shows the Household Debt Service Ratio for mortgages as a percentage of disposable personal income. The ratio is the total quarterly required mortgage payments divided by total quarterly disposable personal income. In other words, the percentage of spendable income people are using to pay their mortgage.
Today’s ratio of 4.44% is nowhere near the ratio of 7.21% during the peak of the housing bubble and is instead at the lowest rate since 1980 (4.38%).
Many families paid a heavy price because of questionable practices that led to last decade’s housing crash. It seems the American people have learned a lesson and are not repeating that same behavior regarding their mortgage debt. #RealEstate#Realtor#Realty#Broker#ForSale#NewHome#HouseHunting#MillionDollarListing#HomeSale#HomesForSale#Property#Properties#Investment#Home#Housing#Listing#Mortgage#HomeInspection#CreditReport#CreditScore#Foreclosure#NAR#EmptyNest#Renovated#JustListed#OpenHouse#WantToMove#HateMyHouse
N O O K SUCCESS STORY // Our Nook Experts are on fire this week and we have a ton of announcements! Wonderful work by Judy Hughes (@14weekends) on the sale of this wonderful 4-bedroom desert home located in La Quinta, CA and offering stunning panoramic views from the backyard! Connect with Judy with a swipe, or visit the Nook Real Estate team website at nookrealestate.com. #searchwithstyle#sellwithstyle#nookrealestate#nooksuccessstory
I've had the immense pleasure of counseling a few couples on the brink of foreclosure who were sure they would need to complete a short sale if they sold their home.
After a (free!) Comparative Market Analysis, the rising market has given us reason to believe that we can sell their home at a retail price and save their credit and VA certificate in some cases.
If you're curious what your home is currently worth, let's chat!
Oportunidad hermoso apartamento Santa Bárbara 2 habitaciones, 2 baños, sala comedor, 2 asesores, zona de BBQ terraza amoblada nuevo menos de 6 años de construido.
Más información: 310 2044320
Congratulations to my buyers Brent, Harmony, Alex, and Jody on getting this beautiful home in Seattle under contract! Fingers are crossed that the appraisal goes well! I can't wait until you get your keys! Also, really neat that I know the listing agents very well! (Henry and Chelsey Samonte)! I love that we can do a great deal together.
I’m out showing a home and I don’t remember this being an original #spacejam#poster could be another case of the #mandelaeffect 🤷🏾♂️ Speaking of memories remember to call me or email when you want to buy or sell a house 📱424-282-0695
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*Please also note that the interior photos were virtually staged.
The Sales Team
12 hrs ·
#GetReadyforSummerTip : Wash Your Windows
Winter and windy weather can leave a layer of grit, grime, salt and dirt on your windows. Let in the sunshine by cleaning all of the windows in your house inside and out. You’ll be amazed at the difference it makes. Start by filling a spray bottle with a formula of white vinegar and water. Spray the solution onto your windows and let it stir for 10-15 minutes. Use a plastic bristle brush to scrub the salt from your windows. Follow up with a traditional window cleaner and squeegee to remove any remaining dirt. Start with broad horizontal strokes and finish with over lapping vertical strokes to prevent streaks.
Off Market! Great Property for Sale for homeowner looking to create their dream home! 3 bed 2.5 bath with 2 car parking. Needs Renovation but make this home your own with instant equity! What could be better?
Asking 475,000k . Message me for details!
246 NE 118 Street, Miami, FL
Fully remodeled turn key 3 bedroom 2 bathroom single family home located in sought after Biscayne Park. This open floor plan home features luxury impact windows, stainless steel appliances, over-sized yard, freshly painted, just to name a few. This rare gem wont last! Call Today for private showing! •
We understand your personal worries about buying a home, that's why we took seriously the time to show you what most are alike. Contact us by WhatsApp and find together your next home, and start your living as owner.
Entendemos sus preocupaciones comprando su hogar, por eso tomamos el tiempo seriamente buscando la que mejor se ajuste. Contáctenos por WhatsApp y hallemos juntos su próximo hogar, y empiece a vivir como propietario. #pereira#dosquebradas#colombia @rentabilidadinmo