Friday, October 28, 2005

1990's Housing Bubble vs Today's Market

1990's Housing Bubble - vs -Today's

Let's compare our last housing bubble in the late 80's and early 90's with today's current housing market.

1. 1986 the number of new housing permits issued was nearly twice the number today, 28,100 versus 14,842 today.

2. Fifteen years ago there was 1.5 years of supply of homes for sale, today 7.2 months.

3. Fifteen years ago unemployment was in double digits, today it's in the single digits.

4. Fifteen years ago interest rates were in the double digits, today it's in the single digits.

5. Fifteen years ago there was an over supply of rental properties for sale, today very few

6. Fifteen years ago banking requirements were very loose, today they have tightened.

7. Fifteen years ago mortgage payments, as a percentage of monthly income, was mostly in the area of 25- 30% , in 2004 it was under 20%, today it may hit 20%.

Just something to think about.

www.fordrealty.net

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Blogger thedannywelsh said...

I totally agree with this post. In comparison of the 90's versus today's housing market, there are quite a difference in some areas. Such as; the supply of homes for sale, interest rates and banking requirements. Thanks for sharing!

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