The Housing Market After the End of the Homebuyers’ Tax Credit
Barry Ritholtz points to this chart of the Mortgage Bankers’ Association purchase index. It shows mortgage applications crashing after the expiry of the Obama
Jul 31, 2020147.1K Shares4.9M Views
Barry Ritholtz points tothis chart of the Mortgage Bankers’ Association purchase index. It shows mortgage applications crashing after the expiry of the Obama administration’s homebuyers’ tax credit, falling to the same level as in May 1997, when there were approximately 40 million fewer people living in the United States and the rate of homeownership was a few percentage points lower. Hopefully, this is the bottom and after a few months the market will normalize from its new low. Delinquencies on mortgages backed by the Federal Housing Administration, an important metric, are down, for instance.
Dexter Cooke
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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations.
As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all.
Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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