Bing Bai

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Last quote by Bing Bai

Traditionally, borrowers could afford the higher payments on the larger mortgage because their incomes were rising. But falling home prices during the financial crisis have eroded this equity, and most homes are worth less than their 2007 peak: Home values nationwide must still increase by 6.5 percent to reach peak values. Real incomes have been flat since the mid-1990s, and credit standards are tight, further limiting trade-up activity.feedback
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Sep 29 2016
Bing Bai has been quoted 1 time in 1 different article. On this page, you will find all of Bing Bai’s quotes organized by date and topic. Alongside each quote is a link back to the article where the quote was reported, so you can go back to the source for more context if you need it. Topics that Bing Bai speaks about are home and income, for example. Most recently, Bing Bai was quoted in the article No, you probably can’t afford that house. Here’s why saying, “Traditionally, borrowers could afford the higher payments on the larger mortgage because their incomes were rising. But falling home prices during the financial crisis have eroded this equity, and most homes are worth less than their 2007 peak: Home values nationwide must still increase by 6.5 percent to reach peak values. Real incomes have been flat since the mid-1990s, and credit standards are tight, further limiting trade-up activity.”.
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