Boston Condos for Sale and Apartments for Rent
Are we headed towards a Recession? Some major indicators say we are.
Deutsche Bank has predicted that a major recession is in store for the U.S. by the end of next year. The bank’s chief U.S. economist, Matthew Luzzetti, joins CBS News’ Mola Lenghi and Nikki Battiste to discuss what’s fueling the forecast and the possible implications.
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The current recession isn’t like the last one, at least not yet. Boston real estate prices are steady or going up instead of down. There is more new construction too but not affordable new construction in the metro area.
There may be some foreclosures in the future. FHA loans are just one type of loan but are a path to homeownership because they require smaller down payments.
The number of FHA loans with late payments rose to almost 16% in the second quarter, up from about 9.7% in the previous three months and the highest level in records dating back to 1979, the Mortgage Bankers Association said Monday.
There is a federal forbearance program and an excellent resource for people in downtown Boston who are struggling to make those mortgage payments.
The delinquency rate for conventional loans, by comparison, was 6.7%.
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