Further signs of recovery for US real estate
Several leading economists agree that the USA real estate markets are beginning to recover following several years of plummeting house prices and huge numbers of foreclosure filings.
New reports suggest that many unfortunate homeowners who fell victim to foreclosure are once again attempting to re-join the USA real estate ladder.
Published data reveals an increase in the level of Federal Housing Agency (FHA) supported mortgages – these home loans allows prospective buyers to pay a smaller deposit with a lower credit rating. Seven years ago before the property crash less than 5 per cent of all American mortgage deals were supplied by FHA today the level has sky rocketed to 30 per cent.
While one or two industry experts have voiced concern that higher levels of FHA backed schemes could result in further foreclosure incidences in the coming years lenders disagree as tighter restrictions are now in place.