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Housing Market Update

Posted on August 7, 2013

handing-over-the-keysPresident Obama recently spoke on the current state of the housing market. His speech boiled down to one basic idea: things are getting better but we still have a long way to go.

Some ideas introduced during the speech were not new. In fact, the President has been calling to wind down Fannie and Freddie since 2011. He also called for an “indepent regulator” to be created and bear the most risk for mortgage loss to prevent an bubble burst such as we just experienced. He also continued his bid to allow the majority of Americans refinance their current loans in order to save money and boost the economy even further, although the current rise in interest rates may dampen the effect.

President Obama also weaved in ideas on creating affordable rental housing for those who either currently cannot or simply prefer to rent their homes. This was further enforced by current immigration reform, which would not only increase equity for current homeowners, but cause a rise in rental demand. For more information on the current state of the Gulf Coast real estate market, contact Brad Shoults Real Estate today.

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