\n
Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n
Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n
\"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The report<\/a> from MBA states that \"banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021.\"<\/em> This is the first time in MBA's recorded history that they reported this type of loss from independent mortgage banks and mortgage subsidiaries of chartered banks.<\/p>\n\n\n\n The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The Mortgage Bankers Association (MBA) stated that for the first time ever, in 2022, banks were losing money on every mortgage they'd financed. <\/p>\n\n\n\n The report<\/a> from MBA states that \"banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021.\"<\/em> This is the first time in MBA's recorded history that they reported this type of loss from independent mortgage banks and mortgage subsidiaries of chartered banks.<\/p>\n\n\n\n The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The modest rise in UK house prices in June underscores the resilience of the housing market amidst significant economic challenges. While higher borrowing costs continue to exert pressure, regional variations and potential political interventions add layers of complexity to the market's future. As analysts predict a gradual recovery, the interplay between wage growth and borrowing costs will be critical in shaping the housing landscape in the coming years.<\/p>\n","post_title":"British Housing Market Sees Slight Increase Despite Economic Pressures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"british-housing-market-sees-slight-increase-despite-economic-pressures","to_ping":"","pinged":"","post_modified":"2024-07-05 21:46:35","post_modified_gmt":"2024-07-05 11:46:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17644","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10872,"post_author":"12","post_date":"2023-04-11 23:52:41","post_date_gmt":"2023-04-11 13:52:41","post_content":"\n The Mortgage Bankers Association (MBA) stated that for the first time ever, in 2022, banks were losing money on every mortgage they'd financed. <\/p>\n\n\n\n The report<\/a> from MBA states that \"banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021.\"<\/em> This is the first time in MBA's recorded history that they reported this type of loss from independent mortgage banks and mortgage subsidiaries of chartered banks.<\/p>\n\n\n\n The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Looking ahead, the housing market's trajectory remains uncertain. A Reuters<\/a> poll of housing market analysts, conducted on May 29, projected a 1.8% rise in property prices for 2024. This optimistic outlook is underpinned by expectations of higher wages, which could enhance affordability despite the prevailing high mortgage rates.<\/p>\n\n\n\n The modest rise in UK house prices in June underscores the resilience of the housing market amidst significant economic challenges. While higher borrowing costs continue to exert pressure, regional variations and potential political interventions add layers of complexity to the market's future. As analysts predict a gradual recovery, the interplay between wage growth and borrowing costs will be critical in shaping the housing landscape in the coming years.<\/p>\n","post_title":"British Housing Market Sees Slight Increase Despite Economic Pressures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"british-housing-market-sees-slight-increase-despite-economic-pressures","to_ping":"","pinged":"","post_modified":"2024-07-05 21:46:35","post_modified_gmt":"2024-07-05 11:46:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17644","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10872,"post_author":"12","post_date":"2023-04-11 23:52:41","post_date_gmt":"2023-04-11 13:52:41","post_content":"\n The Mortgage Bankers Association (MBA) stated that for the first time ever, in 2022, banks were losing money on every mortgage they'd financed. <\/p>\n\n\n\n The report<\/a> from MBA states that \"banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021.\"<\/em> This is the first time in MBA's recorded history that they reported this type of loss from independent mortgage banks and mortgage subsidiaries of chartered banks.<\/p>\n\n\n\n The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
In the political arena, Britain's opposition Labour Party, which currently leads in opinion polls ahead of Thursday's election, has proposed relaxing planning rules. This move is intended to boost construction and, ultimately, make housing more affordable. If implemented, such policies could provide a much-needed supply-side stimulus to the housing market, potentially easing price pressures in the longer term.<\/p>\n\n\n\n Looking ahead, the housing market's trajectory remains uncertain. A Reuters<\/a> poll of housing market analysts, conducted on May 29, projected a 1.8% rise in property prices for 2024. This optimistic outlook is underpinned by expectations of higher wages, which could enhance affordability despite the prevailing high mortgage rates.<\/p>\n\n\n\n The modest rise in UK house prices in June underscores the resilience of the housing market amidst significant economic challenges. While higher borrowing costs continue to exert pressure, regional variations and potential political interventions add layers of complexity to the market's future. As analysts predict a gradual recovery, the interplay between wage growth and borrowing costs will be critical in shaping the housing landscape in the coming years.<\/p>\n","post_title":"British Housing Market Sees Slight Increase Despite Economic Pressures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"british-housing-market-sees-slight-increase-despite-economic-pressures","to_ping":"","pinged":"","post_modified":"2024-07-05 21:46:35","post_modified_gmt":"2024-07-05 11:46:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17644","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10872,"post_author":"12","post_date":"2023-04-11 23:52:41","post_date_gmt":"2023-04-11 13:52:41","post_content":"\n The Mortgage Bankers Association (MBA) stated that for the first time ever, in 2022, banks were losing money on every mortgage they'd financed. <\/p>\n\n\n\n The report<\/a> from MBA states that \"banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021.\"<\/em> This is the first time in MBA's recorded history that they reported this type of loss from independent mortgage banks and mortgage subsidiaries of chartered banks.<\/p>\n\n\n\n The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
In the political arena, Britain's opposition Labour Party, which currently leads in opinion polls ahead of Thursday's election, has proposed relaxing planning rules. This move is intended to boost construction and, ultimately, make housing more affordable. If implemented, such policies could provide a much-needed supply-side stimulus to the housing market, potentially easing price pressures in the longer term.<\/p>\n\n\n\n Looking ahead, the housing market's trajectory remains uncertain. A Reuters<\/a> poll of housing market analysts, conducted on May 29, projected a 1.8% rise in property prices for 2024. This optimistic outlook is underpinned by expectations of higher wages, which could enhance affordability despite the prevailing high mortgage rates.<\/p>\n\n\n\n The modest rise in UK house prices in June underscores the resilience of the housing market amidst significant economic challenges. While higher borrowing costs continue to exert pressure, regional variations and potential political interventions add layers of complexity to the market's future. As analysts predict a gradual recovery, the interplay between wage growth and borrowing costs will be critical in shaping the housing landscape in the coming years.<\/p>\n","post_title":"British Housing Market Sees Slight Increase Despite Economic Pressures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"british-housing-market-sees-slight-increase-despite-economic-pressures","to_ping":"","pinged":"","post_modified":"2024-07-05 21:46:35","post_modified_gmt":"2024-07-05 11:46:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17644","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10872,"post_author":"12","post_date":"2023-04-11 23:52:41","post_date_gmt":"2023-04-11 13:52:41","post_content":"\n The Mortgage Bankers Association (MBA) stated that for the first time ever, in 2022, banks were losing money on every mortgage they'd financed. <\/p>\n\n\n\n The report<\/a> from MBA states that \"banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021.\"<\/em> This is the first time in MBA's recorded history that they reported this type of loss from independent mortgage banks and mortgage subsidiaries of chartered banks.<\/p>\n\n\n\n The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
However, the story isn't uniformly bleak across the UK. London's property market, often seen as a bellwether for the rest of the country, saw prices rise by 1.6% in the second quarter compared to the same period in 2023. This regional variation highlights the complex dynamics at play in the housing market, where local factors can heavily influence price movements.<\/p>\n\n\n\n In the political arena, Britain's opposition Labour Party, which currently leads in opinion polls ahead of Thursday's election, has proposed relaxing planning rules. This move is intended to boost construction and, ultimately, make housing more affordable. If implemented, such policies could provide a much-needed supply-side stimulus to the housing market, potentially easing price pressures in the longer term.<\/p>\n\n\n\n Looking ahead, the housing market's trajectory remains uncertain. A Reuters<\/a> poll of housing market analysts, conducted on May 29, projected a 1.8% rise in property prices for 2024. This optimistic outlook is underpinned by expectations of higher wages, which could enhance affordability despite the prevailing high mortgage rates.<\/p>\n\n\n\n The modest rise in UK house prices in June underscores the resilience of the housing market amidst significant economic challenges. While higher borrowing costs continue to exert pressure, regional variations and potential political interventions add layers of complexity to the market's future. As analysts predict a gradual recovery, the interplay between wage growth and borrowing costs will be critical in shaping the housing landscape in the coming years.<\/p>\n","post_title":"British Housing Market Sees Slight Increase Despite Economic Pressures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"british-housing-market-sees-slight-increase-despite-economic-pressures","to_ping":"","pinged":"","post_modified":"2024-07-05 21:46:35","post_modified_gmt":"2024-07-05 11:46:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17644","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10872,"post_author":"12","post_date":"2023-04-11 23:52:41","post_date_gmt":"2023-04-11 13:52:41","post_content":"\n The Mortgage Bankers Association (MBA) stated that for the first time ever, in 2022, banks were losing money on every mortgage they'd financed. <\/p>\n\n\n\n The report<\/a> from MBA states that \"banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021.\"<\/em> This is the first time in MBA's recorded history that they reported this type of loss from independent mortgage banks and mortgage subsidiaries of chartered banks.<\/p>\n\n\n\n The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Recession Fears And A Slow Labour Market Exert Pressure On Stocks<\/a><\/p>\n\n\n\n However, the story isn't uniformly bleak across the UK. London's property market, often seen as a bellwether for the rest of the country, saw prices rise by 1.6% in the second quarter compared to the same period in 2023. This regional variation highlights the complex dynamics at play in the housing market, where local factors can heavily influence price movements.<\/p>\n\n\n\n In the political arena, Britain's opposition Labour Party, which currently leads in opinion polls ahead of Thursday's election, has proposed relaxing planning rules. This move is intended to boost construction and, ultimately, make housing more affordable. If implemented, such policies could provide a much-needed supply-side stimulus to the housing market, potentially easing price pressures in the longer term.<\/p>\n\n\n\n Looking ahead, the housing market's trajectory remains uncertain. A Reuters<\/a> poll of housing market analysts, conducted on May 29, projected a 1.8% rise in property prices for 2024. This optimistic outlook is underpinned by expectations of higher wages, which could enhance affordability despite the prevailing high mortgage rates.<\/p>\n\n\n\n The modest rise in UK house prices in June underscores the resilience of the housing market amidst significant economic challenges. While higher borrowing costs continue to exert pressure, regional variations and potential political interventions add layers of complexity to the market's future. As analysts predict a gradual recovery, the interplay between wage growth and borrowing costs will be critical in shaping the housing landscape in the coming years.<\/p>\n","post_title":"British Housing Market Sees Slight Increase Despite Economic Pressures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"british-housing-market-sees-slight-increase-despite-economic-pressures","to_ping":"","pinged":"","post_modified":"2024-07-05 21:46:35","post_modified_gmt":"2024-07-05 11:46:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17644","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10872,"post_author":"12","post_date":"2023-04-11 23:52:41","post_date_gmt":"2023-04-11 13:52:41","post_content":"\n The Mortgage Bankers Association (MBA) stated that for the first time ever, in 2022, banks were losing money on every mortgage they'd financed. <\/p>\n\n\n\n The report<\/a> from MBA states that \"banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021.\"<\/em> This is the first time in MBA's recorded history that they reported this type of loss from independent mortgage banks and mortgage subsidiaries of chartered banks.<\/p>\n\n\n\n The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The increase in borrowing costs has made homeownership more challenging for many, particularly first-time buyers. Despite stronger earnings growth, the higher mortgage rates have significantly reduced purchasing power, leading to a more subdued market.<\/p>\n\n\n\n See Related:<\/em><\/strong> Recession Fears And A Slow Labour Market Exert Pressure On Stocks<\/a><\/p>\n\n\n\n However, the story isn't uniformly bleak across the UK. London's property market, often seen as a bellwether for the rest of the country, saw prices rise by 1.6% in the second quarter compared to the same period in 2023. This regional variation highlights the complex dynamics at play in the housing market, where local factors can heavily influence price movements.<\/p>\n\n\n\n In the political arena, Britain's opposition Labour Party, which currently leads in opinion polls ahead of Thursday's election, has proposed relaxing planning rules. This move is intended to boost construction and, ultimately, make housing more affordable. If implemented, such policies could provide a much-needed supply-side stimulus to the housing market, potentially easing price pressures in the longer term.<\/p>\n\n\n\n Looking ahead, the housing market's trajectory remains uncertain. A Reuters<\/a> poll of housing market analysts, conducted on May 29, projected a 1.8% rise in property prices for 2024. This optimistic outlook is underpinned by expectations of higher wages, which could enhance affordability despite the prevailing high mortgage rates.<\/p>\n\n\n\n The modest rise in UK house prices in June underscores the resilience of the housing market amidst significant economic challenges. While higher borrowing costs continue to exert pressure, regional variations and potential political interventions add layers of complexity to the market's future. As analysts predict a gradual recovery, the interplay between wage growth and borrowing costs will be critical in shaping the housing landscape in the coming years.<\/p>\n","post_title":"British Housing Market Sees Slight Increase Despite Economic Pressures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"british-housing-market-sees-slight-increase-despite-economic-pressures","to_ping":"","pinged":"","post_modified":"2024-07-05 21:46:35","post_modified_gmt":"2024-07-05 11:46:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17644","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10872,"post_author":"12","post_date":"2023-04-11 23:52:41","post_date_gmt":"2023-04-11 13:52:41","post_content":"\n The Mortgage Bankers Association (MBA) stated that for the first time ever, in 2022, banks were losing money on every mortgage they'd financed. <\/p>\n\n\n\n The report<\/a> from MBA states that \"banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021.\"<\/em> This is the first time in MBA's recorded history that they reported this type of loss from independent mortgage banks and mortgage subsidiaries of chartered banks.<\/p>\n\n\n\n The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The British housing market, which saw unprecedented growth during COVID-19, has since faced headwinds as the Bank of England raised interest rates to levels not seen since 2008. This move, aimed at curbing inflation, has dampened the property market's momentum, with current prices sitting around 3% below their record highs from two years ago.<\/p>\n\n\n\n The increase in borrowing costs has made homeownership more challenging for many, particularly first-time buyers. Despite stronger earnings growth, the higher mortgage rates have significantly reduced purchasing power, leading to a more subdued market.<\/p>\n\n\n\n See Related:<\/em><\/strong> Recession Fears And A Slow Labour Market Exert Pressure On Stocks<\/a><\/p>\n\n\n\n However, the story isn't uniformly bleak across the UK. London's property market, often seen as a bellwether for the rest of the country, saw prices rise by 1.6% in the second quarter compared to the same period in 2023. This regional variation highlights the complex dynamics at play in the housing market, where local factors can heavily influence price movements.<\/p>\n\n\n\n In the political arena, Britain's opposition Labour Party, which currently leads in opinion polls ahead of Thursday's election, has proposed relaxing planning rules. This move is intended to boost construction and, ultimately, make housing more affordable. If implemented, such policies could provide a much-needed supply-side stimulus to the housing market, potentially easing price pressures in the longer term.<\/p>\n\n\n\n Looking ahead, the housing market's trajectory remains uncertain. A Reuters<\/a> poll of housing market analysts, conducted on May 29, projected a 1.8% rise in property prices for 2024. This optimistic outlook is underpinned by expectations of higher wages, which could enhance affordability despite the prevailing high mortgage rates.<\/p>\n\n\n\n The modest rise in UK house prices in June underscores the resilience of the housing market amidst significant economic challenges. While higher borrowing costs continue to exert pressure, regional variations and potential political interventions add layers of complexity to the market's future. As analysts predict a gradual recovery, the interplay between wage growth and borrowing costs will be critical in shaping the housing landscape in the coming years.<\/p>\n","post_title":"British Housing Market Sees Slight Increase Despite Economic Pressures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"british-housing-market-sees-slight-increase-despite-economic-pressures","to_ping":"","pinged":"","post_modified":"2024-07-05 21:46:35","post_modified_gmt":"2024-07-05 11:46:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17644","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10872,"post_author":"12","post_date":"2023-04-11 23:52:41","post_date_gmt":"2023-04-11 13:52:41","post_content":"\n The Mortgage Bankers Association (MBA) stated that for the first time ever, in 2022, banks were losing money on every mortgage they'd financed. <\/p>\n\n\n\n The report<\/a> from MBA states that \"banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021.\"<\/em> This is the first time in MBA's recorded history that they reported this type of loss from independent mortgage banks and mortgage subsidiaries of chartered banks.<\/p>\n\n\n\n The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
British house prices exhibited a modest increase in June despite ongoing economic challenges. Nationwide, one of the UK's leading mortgage lenders, reported a 0.2% rise from May, with an annual increase of 1.5% compared to June last year.<\/p>\n\n\n\n The British housing market, which saw unprecedented growth during COVID-19, has since faced headwinds as the Bank of England raised interest rates to levels not seen since 2008. This move, aimed at curbing inflation, has dampened the property market's momentum, with current prices sitting around 3% below their record highs from two years ago.<\/p>\n\n\n\n The increase in borrowing costs has made homeownership more challenging for many, particularly first-time buyers. Despite stronger earnings growth, the higher mortgage rates have significantly reduced purchasing power, leading to a more subdued market.<\/p>\n\n\n\n See Related:<\/em><\/strong> Recession Fears And A Slow Labour Market Exert Pressure On Stocks<\/a><\/p>\n\n\n\n However, the story isn't uniformly bleak across the UK. London's property market, often seen as a bellwether for the rest of the country, saw prices rise by 1.6% in the second quarter compared to the same period in 2023. This regional variation highlights the complex dynamics at play in the housing market, where local factors can heavily influence price movements.<\/p>\n\n\n\n In the political arena, Britain's opposition Labour Party, which currently leads in opinion polls ahead of Thursday's election, has proposed relaxing planning rules. This move is intended to boost construction and, ultimately, make housing more affordable. If implemented, such policies could provide a much-needed supply-side stimulus to the housing market, potentially easing price pressures in the longer term.<\/p>\n\n\n\n Looking ahead, the housing market's trajectory remains uncertain. A Reuters<\/a> poll of housing market analysts, conducted on May 29, projected a 1.8% rise in property prices for 2024. This optimistic outlook is underpinned by expectations of higher wages, which could enhance affordability despite the prevailing high mortgage rates.<\/p>\n\n\n\n The modest rise in UK house prices in June underscores the resilience of the housing market amidst significant economic challenges. While higher borrowing costs continue to exert pressure, regional variations and potential political interventions add layers of complexity to the market's future. As analysts predict a gradual recovery, the interplay between wage growth and borrowing costs will be critical in shaping the housing landscape in the coming years.<\/p>\n","post_title":"British Housing Market Sees Slight Increase Despite Economic Pressures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"british-housing-market-sees-slight-increase-despite-economic-pressures","to_ping":"","pinged":"","post_modified":"2024-07-05 21:46:35","post_modified_gmt":"2024-07-05 11:46:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17644","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10872,"post_author":"12","post_date":"2023-04-11 23:52:41","post_date_gmt":"2023-04-11 13:52:41","post_content":"\n The Mortgage Bankers Association (MBA) stated that for the first time ever, in 2022, banks were losing money on every mortgage they'd financed. <\/p>\n\n\n\n The report<\/a> from MBA states that \"banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021.\"<\/em> This is the first time in MBA's recorded history that they reported this type of loss from independent mortgage banks and mortgage subsidiaries of chartered banks.<\/p>\n\n\n\n The cost of financing a loan has increased to an average of $10,624 as the decline in business is too fast for the decrease in workers. Marina Walsh, the MBA's VP of Industry Analysis stated that;<\/p>\n\n\n\n \"The rapid rise in mortgage rates over a relatively short period of time, combined with extremely low housing inventory and affordability challenges, meant that both purchase and refinance volume plummeted,\"<\/em> adding that \"The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan.\"<\/em><\/p>\n\n\n\n Mortgage rates are near 20-year highs<\/a>, and house prices are expected to creep upwards as demand is exceeded by the housing supply. Nadia Evangelou, economist and director of research at the National Association of Realtors told<\/a> Business Insider that a housing crash isn't expected;<\/p>\n\n\n\n \"Back in 2008, we had an oversupply of homes by like 4 million, but now we have less than 1 million, and this is the main factor that keeps home prices from falling.\"<\/em><\/p>\n\n\n\n Evangelou predicts that housing may drop slightly this year, but only short term, as prices are expected to jump once again in 2024. <\/p>\n\n\n\n On the other hand, Jeff Taylor, an MBA board member, stated<\/a> that housing prices could fall by over 9% in 2023. Following this would be trading volumes hitting 40-year-lows as individuals aren't moving around or selling either.<\/p>\n","post_title":"Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banks-are-losing-money-on-mortgages-financed-unaffordable-housing-prices-are-the-cause","to_ping":"","pinged":"","post_modified":"2023-04-12 00:06:33","post_modified_gmt":"2023-04-11 14:06:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10872","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
British house prices exhibited a modest increase in June despite ongoing economic challenges. Nationwide, one of the UK's leading mortgage ... The Mortgage Bankers Association (MBA) stated that for the first time ever, in 2022, banks were losing money on every ...
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What Caused The Unaffordable Housing Prices <\/h2>\n\n\n\n
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What Caused The Unaffordable Housing Prices <\/h2>\n\n\n\n
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What Caused The Unaffordable Housing Prices <\/h2>\n\n\n\n
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What Caused The Unaffordable Housing Prices <\/h2>\n\n\n\n
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Elections And Opposition Labour Party<\/h2>\n\n\n\n
What Caused The Unaffordable Housing Prices <\/h2>\n\n\n\n
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Elections And Opposition Labour Party<\/h2>\n\n\n\n
What Caused The Unaffordable Housing Prices <\/h2>\n\n\n\n
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Elections And Opposition Labour Party<\/h2>\n\n\n\n
What Caused The Unaffordable Housing Prices <\/h2>\n\n\n\n
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Elections And Opposition Labour Party<\/h2>\n\n\n\n
What Caused The Unaffordable Housing Prices <\/h2>\n\n\n\n
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Elections And Opposition Labour Party<\/h2>\n\n\n\n
What Caused The Unaffordable Housing Prices <\/h2>\n\n\n\n
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Elections And Opposition Labour Party<\/h2>\n\n\n\n
What Caused The Unaffordable Housing Prices <\/h2>\n\n\n\n
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Housing
British Housing Market Sees Slight Increase Despite Economic Pressures
Banks Are Losing Money On Mortgages Financed; Unaffordable Housing Prices Are The Cause
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