CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact

News

Home » CUNA’s Schenk answers housing bubble questions from Buzzfeed
Policy & Issues

CUNA’s Schenk answers housing bubble questions from Buzzfeed

August 24, 2021
CUs’ mortgage market share continues to rise

What’s the deal with the housing market, and how does it affect you? Those are among the questions CUNA Chief Economist Mike Schenk answered during a recent interview with Buzzfeed. With housing prices on the rise (the average U.S. home price is up 13.2% since last year, accroding to Zillow), Schenk was asked if we are in a housing bubble now.

“We’re definitely seeing prices increase rapidly in some markets, and the increase is unsustainable,” said Schenk. “However, we shouldn’t expect a bubble that’s going to pop, but adjustments will likely be made over time.”

Schenk also compared today’s situation isn’t comparable to the 2008 economic crisis—the last housing bubble. He added that Federal Reserve data shows American household debt is at an all-time low, so “consumers (on average) are in a much better place financially to buy and keep their homes.”

Schenk said he expects the home value appreciation to slow down significantly in the months ahead.

Credit Union Magazine: Summer 2022

Summer 2022

Credit Union Magazine’s Spring 2022 edition highlights inclusive lending, succession planning, fair lending and artificial intelligence, and the use of environmental, social, and governance (ESG) as a competitive differentiator.
Digital Edition •  Subscribe

Trending

  • CFPB issues advisory opinion on debt collection fees

  • MWCUA, NWCUA complete merger, new name coming next week

  • Voice service providers back CUNA position on call blocking codes

Tweets by CUNA_News

Polls

Do you think credit unions should offer cryptocurrency services?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2022 Credit Union National Association | ADA Compliance Notice & Legal
Email Us