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Santa Clarita Housing Market More Stable Than a Decade Ago

As 2018 is still fresh, home prices strikingly resemble the highs of the 2006 housing bubble. However, this time around, no one should fear an inevitable collapse.

The 2008 Great Recession came in part from a housing market with a shoddy foundation. The lending standards from a decade ago were much looser than they are today. The low FICO scores in 2006 clearly represents this. The median FICO score in 2006 was 700, while the median FICO score in 2017 was 734. This is a 4.8% increase in the average FICO score—arguably representing a 4% increase in financial stability across the United States.

Looking at the bottom 10% of home borrowers reveals the real growth of the American financial situation. In 2006, the median FICO score for the bottom tier of home borrowers was 602; whereas, in 2017, the median score for that same tier was 649. This is a 7.8% national increase in only 10 years.

One of the major contributing factors to this increase was the installation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This act requires that loan originators provide verified documentation that proves a borrower can repay their loan. “Lending standards are critical to the health of the market,” said a chief economist from a well-known website. “Unlike today, the boom’s under-regulated lending environment allowed borrowing beyond repayable amounts and atypical mortgage products.”

Looking to Move in the Santa Clarita Valley?

Whether you are moving into the valley or out of it, Affordable Quality Moving Services can help you with any and all of your moving needs! Our team has been in the business for more than 20 years. Whatever your moving needs are, AQMS can cover them. Are you are unsure about a moving service? Sign up for a free quote regarding the work that you want to be done!

Call (661) 622-2636 to set up your carefree move.

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Why Choose AQMS

  • Husband & WifeOwned & Operated

  • Established Nearly20 Years Ago

  • Fully Licensed& Insured

  • Free In-HomeEstimates

  • No HiddenCharges or Fees

  • CompetitivePricing

  • Top QualityWork

  • Last Minute & EmergencyServices Available

We promise to always provide service with integrity and honesty.

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Moving Professionals You Can Trust

661.622.2636