Bloomberg Businessweek says that we can “call off the bubble alert.” The start of 2014 has seen the pace of house price increases slow, and the number of homes entering foreclosure per quarter is back down to the pre-crisis levels of 2005-2006.
In 2012, banks may seize more than 1 million U.S. homes this year after legal scrutiny of their foreclosure practices slowed actions against delinquent property owners in 2011.
The housing outlook is brighter, but the Obama administration is still looking for answers for millions of homeowners struggling with underwater mortgages.
With much less financial risk-taking and an increase in equity wealth, today's buyers and homeowners are much more prepared to handle a housing downturn than they were in 2008