In order to purchase a home, a lot of people have to resort to risky mortgages.
More Quotes from Celia Chen:
I do not think this is indicative of housing being strong, but rather that fact that people are expecting rates to rise and they are taking advantage of that.Celia Chen
There is a strong push among immigrants to purchase homes. About a decade ago, this country had a surge in immigrants who have only recently begun the home buying process.
Celia Chen
People who spent money on travel and luxury goods are spending more money entertaining themselves at home.
Celia Chen
It's pretty clear that housing is slowing. Rising mortgage rates and the very fast rising homes prices are constraining home buying. Homes are still considered affordable, but not as much so as a year ago.
Celia Chen
We see a slowing in home-price appreciation. But some markets could see a significant decline.
Celia Chen
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