A housing price correction “worse than 2008”? That’s the headline of Melody Wright’s widely-cited Newsweek interview, but today, she’s giving her full, honest take on what she really meant.
Melody got into the mortgage industry in 2006, riding the subprime wave up until it popped two years later. The lender she worked for went bankrupt in 2012, as Melody witnessed the fallout firsthand. From there, her new job became analyzing housing data to ensure this never happened again. And looking at the data—delinquencies rising, inventory spiking, a quiet “credit crisis” rarely talked about—Melody believes we could be on the verge of another serious correction.
Today, we’re getting her detailed opinion on whether we should expect a housing crash, correction, or a slow, stable return to affordability. We talk at length about the rising delinquency rates (much of which is not public) signaling serious trouble for the housing market and borrowers, and the “credit crisis” brewing behind the scenes that could upend the market (especially for investors).
This is what Melody Wright really thinks will happen next.
In This Episode We Cover
Melody’s real opinion on the “Worse Than 2008” claim
Why Melody believes home prices could correct up to 50% in some markets
The “credit crisis” brewing that uncovers a very weak homebuyer pool
Delayed delinquency? Why more borrowers are beginning to inch closer to losing their homes
The white-collar recession that will have serious effects on pricey real estate markets
And So Much More!
Links from the Show
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On the Market 407 - The White-Collar Recession Means More for Real Estate Than You Think
Newsweek Price Correction ‘Worse Than 2008’ Coming To US Housing Market—Analyst
Reuters JPMorgan marks down value of loan portfolios of some private credit groups, source says
Realtor Housing Market Tilts in Favor of Buyers as Active Inventory Climbs
Grab Dave’s Book, "Real Estate by the Numbers"
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