Great article in the Wall Street Journal. Filled with positive comments relating to the housing bust being over, in fact that is the very last line of the article! Numbers for “underwater” homes is decreasing when they were 1 out of every 4 homes! Employment rate is slowly decreasing which means people aren’t as fearful of losing their jobs so more apt to purchase a home; new homes continue to be built which drives markets. It was reported that the number of unsold new homes is back to 2005 levels, which is impressive! Anything in the mortgage industry today compared to 2005 in a positive way should be considered to be that light at the end of the tunnel we all have so desperately been waiting to see. It’s always refreshing to read something positive in our news regardless of its content, but to see numbers that things are looking up in the mortgage world is definitely hopeful after times have been so bleak for so long.
Exhibiting at a recent tradeshow (FAMP in Tampa, Florida) revealed the same positive buzz. Mortgage professionals are back in the game and are here to stay. We even encountered some professionals who have been out of the industry for some time but are now ready to get back in and get back to work. We saw smiling faces, people networking and seminars attended for continuing education. Things are looking up!