There’s a Shortage of Homes on the Market Today, Not a Surplus
Mortgage Standards Were Much More Relaxed During the Crash
“Credit standards tightened in recent months due to increasing economic uncertainty and monetary policy tightening.”
The Foreclosure Volume Is Nothing Like It Was During the Crash
“In total, mortgage holders gained $2.8 trillion in tappable equity over the past 12 months – a 34% increase that equates to more than $207,000 in equity available per borrower. . . .”
With the average home equity now standing at $207,000, homeowners are in a completely different position this time.