by Warner Todd Huston | July 29, 2015 10:11 am
The housing market is starting to come back according to a new study of homes in the nation’s 25 biggest cities. The study finds that home foreclosures are falling for the first time since 2006 and the housing market is coming back. So, where does the big city in your state fit on the scale?
The study comes from WalletHub.com and reveals that the healthiest housing sector is in Boston, MA while the shakiest is in Las Vegas, NV.
No one can forget the collapse of the housing market that precipitated the most catastrophic financial crisis in recent history. Ironically, the same industry is nursing local economies back to good health. Although mortgages continue to saddle American consumers, who collectively owed $8.17 trillion in housing debt by the end of the second quarter of 2015, signs of economic improvement abound, thanks to real estate’s resurrection.
As of the first quarter of 2015, for instance, about 255,000 consumers had a bankruptcy notation added to their credit reports, the lowest quarterly total since 2006. Foreclosure rates have also dipped to their lowest since that same year. In addition, lower down payments and higher approval rates for people with average credit scores indicate a growing housing market.
Given such promising evidence of steady economic recovery, WalletHub compared the real-estate markets in 25 of the largest metropolitan areas across 10 key metrics. Our data set ranges from the interest rate on a first mortgage to the percentage of households that have received state or local assistance on their first housing loan. Our findings, as well as expert commentary and a detailed methodology, can be found below.
So, where does YOUR city fit?
Source URL: https://rightwingnews.com/economy/chart-the-health-of-the-housing-market-in-the-nations-25-big-cities/
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