Plus, the flip side of the equity gain for homeowners means home-shoppers are losing ground (see how much income needed by market). Mortgage lenders expect much higher FHA conforming loan limits and closing costs increase (sort of).
Also, home-flipping activity slows, rents continue to slide in major cities, wildfires spark insurance rate increases, Paradise home values plummet and equity soars.
California homeowners are enjoying hefty profits when selling — and when they don’t. Also, bigger down payments and higher credit scores needed for buyers, and don’t expect 3.5 million more homes anytime soon.
New calendar, new home for many home-shoppers. Also, rent control starts, Fannie and Freddie less friendly, home equity growth takes a break and home-flipping profits tumble.