[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f333nweai0hpoq":3,"$ffeh0925h8cuz":46,"$f2emv3tus0uf1":50,"$fbwk2pqjjqsc7":54},{"item":4,"previous":34,"next":40},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":32,"updatedAt":33},1287,"3-reasons-why-we-are-not-heading-toward-another-housing-crash","3 Reasons Why We Are Not Heading Toward Another Housing Crash","With home prices softening, some are concerned that we may be headed toward the next housing crash. However, it is important to remember that today’s market is quite different than the bubble market of twelve years ago.\r\n\r\n","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F02\u002F19163120\u002FShare-KCM4.jpg","With home prices softening, some are concerned that we may be headed toward the next housing crash. However, it is important to remember that today’s market is quite different than the bubble market of twelve years ago.\r\n\r\n\u003C!--more-->\r\n\u003Ch4>\u003Cstrong>Here are three key metrics that will explain why:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Col>\r\n \t\u003Cli>Home Prices\u003C\u002Fli>\r\n \t\u003Cli>Mortgage Standards\u003C\u002Fli>\r\n \t\u003Cli>Foreclosure Rates\u003C\u002Fli>\r\n\u003C\u002Fol>\r\n\u003Ch4>\u003Cstrong>HOME PRICES\u003C\u002Fstrong>\u003C\u002Fh4>\r\nA decade ago, home prices depreciated dramatically, losing about 29% of their value over a four-year period (2008-2011). Today, prices are not depreciating. The level of appreciation is just decelerating.\r\n\r\nHome values are no longer appreciating annually at a rate of 6-7%. However, they have still increased by more than 4% over the last year. Of the 100 experts reached for the latest \u003Ca href=\"https:\u002F\u002Fpulsenomics.com\u002Fsurveys\u002F#home-price-expectations\">\u003Cem>Home Price Expectation Survey\u003C\u002Fem>\u003C\u002Fa>\u003Cem>, \u003C\u002Fem>94 said home values would continue to appreciate through 2019. It will just occur at a lower rate.\r\n\u003Ch4>\u003Cstrong>MORTGAGE STANDARDS\u003C\u002Fstrong>\u003C\u002Fh4>\r\nMany are concerned that lending institutions are again easing standards to a level that helped create the last housing bubble. However, there is proof that today’s standards are nowhere near as lenient as they were leading up to the crash.\r\n\r\nThe \u003Cem>Urban Institute\u003C\u002Fem>’s \u003Cem>Housing Finance Policy Center\u003C\u002Fem> issues a quarterly index which,\r\n\u003Cblockquote>\u003Cem>“…measures the percentage of home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates that lenders are willing to tolerate defaults and are taking more risks, making it easier to get a loan.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nLast month, their January \u003Ca href=\"https:\u002F\u002Fwww.urban.org\u002Fpolicy-centers\u002Fhousing-finance-policy-center\u002Fprojects\u002Fhousing-credit-availability-index\">\u003Cem>Housing Credit Availability Index\u003C\u002Fem>\u003C\u002Fa> revealed:\r\n\u003Cblockquote>\u003Cem>“Significant space remains to safely expand the credit box. If the current default risk was doubled across all channels, risk would still be well within the pre-crisis standard of 12.5 percent from 2001 to 2003 for the whole mortgage market.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>FORECLOSURE INVENTORY\u003C\u002Fstrong>\u003C\u002Fh4>\r\nWithin the last decade, distressed properties (foreclosures and short sales) made up 35% of all home sales. The \u003Cem>Mortgage Bankers’ Association\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.mba.org\u002F2019-press-releases\u002Ffebruary\u002Fmortgage-delinquencies-dropped-to-18-year-low-in-the-fourth-quarter-of-2018\">revealed\u003C\u002Fa> just last week that:\r\n\u003Cblockquote>\u003Cem>“The percentage of loans in the foreclosure process at the end of the fourth quarter was 0.95 percent…This was the lowest foreclosure inventory rate since the first quarter of 1996.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nAfter using these three key housing metrics to compare today’s market to that of the last decade, we can see that the two markets are nothing alike.","\r\nAfter using these three key housing metrics to compare today’s market to that of the last decade, we can see that the two markets are nothing alike.",false,[16,20,24,28],{"id":17,"name":18,"slug":19},5,"For 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