June 2011

Found 1 blog entry for June 2011.

2007 saw the start of a severe correction in the housing and credit markets.  There are even websites that track closed mortgage lenders.  My favorite is at: http://ml-implode.com/ Our housing market experienced the perfect storm.  In no particular order:
  1. Housing values began to decrease
  2. The commercial credit market became constricted and even non-liquid
  3. Employment markets weakened
  4. Down payment requirements increased
  5. Mortgage documentation increased and approvals become more difficult
  6. Many suburban communities experience over building
Each element of the perfect storm fueled the other making the result even worse.  Entire housing markets have been devastated.  Major mortgage lenders and banks have closed.  The big examples…
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