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Housing tonight -- the market is actually strengthening home price in the nation's twenty largest cities up more than one and a half percent in July that -- the highest level in nearly two year.
So are we home at last as the market finally seeing a recovery.
Lets us Doug -- that he's the CEO Lending Tree dot com.
Is a question and it's a tough question I mean what do you make of the -- are we bad is it over.
I think we're still were were better than the bottom but it's I'm cautiously optimistic.
But I think we've got a long bumpy road to recovery what we're seeing -- Lending Tree.
Is that rates are low but it's still very difficult to get -- -- credit remains very tight.
But it certainly signs of life.
Because what I -- I had an analyst c'mon today say -- things are getting better you know it's it's it's -- a little bit easier banks are being a little more friendly you're saying not so fast.
You're definitely seeing that consumer rates are low and people can refinance but the problem is -- -- consumers.
That lending restrictions still remain very tight.
It's up it's fundamentally an underlying knowledge related to Fannie Mae and Freddie Mac and what's called loan buybacks in the industry that people are afraid that loans from years ago.
Are gonna come back to haunt them.
Now the government is doing some interesting things with the FHFA which is -- regulator of Fannie Mae and Freddie Mac.
To try to make sure that when you got that insurance from Fannie and Freddie that guarantee.
That that is a real guarantee so that I think we'll have a positive.
And that's the reason that we continue to prop up Fannie Mae and Freddie as well let's talk about -- but overall you know they've beaten the refinance environment a lot of our viewers trying to refinance having a tough time.
And they want to do it because rates are incredibly low seems like they're gonna stay lower credit Ben Bernanke -- he caught me.
But is refi -- are they getting any.
Easier right now right now I don't believe they are however one thing that will make it a little easier is that when you have.
A lot of refinances were not happening because of appraisals now -- -- getting some strength in the housing market it'll be easier to get a property appraised used to not have good copper bulls.
I'm you had a situation where foreclosed homes are sitting on the market which were dragging down overall property values.
We're definitely seeing investors have bought off bought out a lot of the lower price comes and that's certainly -- help the market.
What about cash deals still -- -- a lot of on investment capital out there that are going and buying up distressed properties 456 homes and it's congress.
I've seen a -- in in the state of Arizona where I'm from.
If that's happening or did at the -- come -- It absolutely is it's still happening there's a lot of capital moving into that area there -- still some deals mean you're still only seeing property values back to 2003 levels.
You're not seeing consumers coming into the market in drugs yet you're definitely seeing investors that have moved -- that's definitely helping property values.
Underlying though at the end of the day the consumer market is really related to the jobs market and to prospects of the economy and your income -- -- the bio on the for an entrepreneur.
Let's say the drug is that we seem to -- -- evidence out there that because of the fear of inserted a lot of Americans lot of businesses have been hanging on.
To cash it seems like an even with consumer confidence of the people and just started to like let go of -- wall little -- I mean do agree with.
I do agree with that but I do think it's it's slow and I and I worry too that we're moving into a seasonal slow bond market which is the fall so we're just coming -- Off of this and -- -- still has a lot of uncertainty particular among banks and mortgage companies about the shape the future regulations.
Which is still causing credit to be very tight right -- it and the housing has been fascinating news last couple years and certainly our fundamental and that is assured that they wanted to see thank you -- -- --
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