Jim’s Mortgage Corner | Real Estate
In 2006, many banks and lenders started to offer subprime mortgages to customers with less than perfect credit scores. Soon after, we started to see a high number of borrowers with late payments and foreclosures, which began to bring down values on homes and caused the housing market to crash and to spread across the country from 2008 to 2010.
I am often asked if the housing market is going to crash again since many are concerned with the increase in prices over the last few years.
According to Realtor.com, although asking prices for U.S. homes continue to rise, there are signs that the red-hot housing market has passed its peak, according to a recent report. The median listing price was up 12.2% compared to the same…