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Here is an update to the housing and mortgage crisis. Freddie Mac released an update with their projections for the future of the real estate market including their projections on housing-price growth and the future of mortgage rates. Their projection that most of the economic damage from this outbreak being limited to the first half of 2020 follows the projections that the second half of the year will be stronger. Freddie Mac projects that real estate prices will increases .4% this year and .7% next year, which does mean real estate will be pretty flat between 2020-2021, but that’s actually quite good compared to a real estate decline, crisis, or massive plummet in values. We are also seeing new loosening in appraisal standards at the same time as companies like Chase are tightening standards.
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