Archive for the ‘borrowing’ Category

Real Estate Economists: No ‘Bubble Trouble’ Yet

Monday, June 10th, 2013

Even with rapidly rising home prices, we are not in danger of another housing bubble, said three of the housing markets’ top economists at a conference Friday.

“We are not in ‘bubble trouble,’” said Jed Kolko, Trulia chief economist at the   conference. “Prices are undervalued 7 percent relative to long-term income and rent norms. We see no signs of overbuilding, and few signs of people overborrowing.”

Kolko said that compared to the 40 to 70 percent overvaluation of homes during the last housing boom, “prices would have to keep rising at the current rate (10 percent nationally) for several years to reach another bubble.”

Lawrence Yun, National Association of Realtors chief economist agreed, forecasting that while home prices will increase four out of the next five year, “we will still be shy of pre-bubble years.”

As of April, home prices have risen for 14 consecutive months on a year-over-year basis. And although starting to rise, are still near all-time historical lows. These factors combined are heating up the mortgage market with buyers rushing in to take advantage of rates before they’re gone.

Inventory has not been able to keep up with demand, especially in areas that suffered most in the crash. That is preventing the housing market from seriously running away. CoreLogic chief economist

Mark Fleming said that many homeowners have an attitude of “there’s no point in selling if I can’t buy a home.”

NAR economist Yun did have one caution though. “Home price growth is widening very fast.” he said. “The good news is it is lifting people out of being underwater and offsetting the effects negative effect of [government budget] sequestration.” But he noted that price increases are outpacing income growth. “Any time that happens over a sustained period it is an unhealthy state for the country.”

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Announcing the Prosper Talk About the Taboo Campaign and Sweepstakes!

Monday, March 8th, 2010

Tell us your story and you could win $1000!!

We’re excited to announce the launch of the Prosper campaign and sweepstakes as a way of encouraging us all to open up and share how our finances are shaping our lives.

Personal finance is one of the last remaining social taboos.  People share their deepest personal secrets and matters of the heart on blogs, Facebook, and Twitter.  Yet personal finance has been off limits – until now.

Prosper is launching to help open the channels of conversation about debt reduction, personal finance and smart saving. Our members continually inspire us with stories of how they are using Prosper loans to better their lives, so we want to take this one step further and encourage more open conversation.

We’re opening the site for people to share their stories about how they’re tackling debt and celebrating milestones as they strive for better financial fitness. We’ll also assist them with finding guidance and practical help so they can more easily reach their financial goals.

So share your story and if you do, you’ll automatically be entered in the Sweepstakes with a chance to win $1000!

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