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Housing Experts Say This Isnt a Bubble

Housing Experts Say This Isnt a Bubble | Simplifying The Market

With so much talk about an economic slowdown, some people are asking if the housing market is heading for a crash like the one in 2008. To really understand whats happening with real estate today, its important to lean on the experts for reliable information.

Heres why economists and industry experts say the housing market is not a bubble ready to pop.

Today Is Nothing Like 2008

The 2008 housing crash is still fresh in the minds of many homebuyers and sellers. But todays market is different. Odeta Kushi, Deputy Chief Economist at First American, says:

This is not the same market of 2008. . . . Its no secret the housing market played a central role in the Great Recession, but this market is just fundamentally different in so many ways.

Natalie Campisi, Advisor Staff for Forbes, explains how todays lending standards are different than those during the lead-up to the housing market crash:

Among the differences between todays housing market and that of the 2008 housing crash is that lending standards are tighter due to lessons learned and new regulations enacted after the last crisis. Essentially, that means those approved for a mortgage nowadays are less likely to default than those who were approved in the pre-crisis lending period.

Another reason todays housing market is nothing like 2008 is that the number of people looking to buy a home still outweighs the supply of homes for sale. As notes:

. . . experts dont believe the market is in a bubble or a crash is in the cards, like during the Great Recession. The nation is still suffering from a housing shortage that has reached crisis proportions at a time when many millennials are reaching the age when they start to consider homeownership. Thats likely to keep prices high.

Bottom Line

Experts say the housing market isnt a bubble, and were not heading for a crash. Lets connect so you can have a full picture of todays housing market in our local area.

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