Last quarter we posted 12 Charts You MUST See Before You Even Think About Buying A Home.
Contrarian mortgage broker and editor of newobservations.net, Michael David White has given us the latest picture on these scary charts. The housing market is more precarious than ever. That’s why you should rent, not buy. And if you’re thinking about selling, don’t wait another day.
Here are the scary charts >
Yes, home affordability has improved a lot, but…
Inventory is still very high
Housing supply is picking back up
Delinquent mortgages are high… and could lead to a huge property influx
There’s still a huge mortgage mess
Underwater mortgages are the ten-ton gorilla
15% of borrowers are 30‐days late or worse. The cure rate at 60‐days late is almost zero.
History says property value will fall through 2012
We assume prices will return to the 100-year FLATLINE
Based on four major indexes, prices have another 17% to fall
Housing bubbles were greater abroad… and have further to fall
Rates WILL rise… and then real estate demand will fall
Considering massive government intervention, unit sales are frighteningly low
Don’t miss…
Image: Zillow
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