The theme for the 2016 housing market is “the challenge of housing affordability coupled with expected modest economic growth,” according to a recent report from Fannie Mae’s Economic and Strategic Research (ESR) Group. The research group asserts that continued labor market demand will result in higher wages and job security in the coming year, and that banks will release more flexible lending programs making the process of obtaining mortgage loans easier for millions of Americans. These characteristics indicate a housing market on the upswing with happy, capable buyers; but it’s not that simple. Continue reading →