5 reasons why this market is not like it was during 2008

5 reasons why this market is not like it was during 2008

Real Estate Agent · Seattle, WA · Member since 2020 · 62 posts · 42 votes

Hey everyone! What is your take on the housing market based on these graphics? Where are we heading? Based on the data, it doesn't appear that we have the same market conditions. I know everyone is worried about what will happen with COVID-19. The 5 points of the article were:

1. Mortgage standards are nothing like they were back then.

2. Prices are not soaring out of control.

3. We don’t have a surplus of homes on the market. We have a shortage.

4. Houses became too expensive to buy.

5. People are equity rich, not tapped out.

Here is the link to the full article if you want to take a gander: 

https://www.keepingcurrentmatters.com/2020/03/16/5-simple-graphs-proving-this-is-not-like-the-last-time/?fbclid=IwAR1ypUZ_zkdq5FXivj2ewazqPHECQA-GZ7x9cGIZslb5s-AMNYz9kzjBNP0

4Reply
36 views

4 Replies

Jump to latestLatest
  • Specialist · Riverside, CA · Member since 2015 · 6k+ posts · 3k+ votes
    6y

    It isn't the same because there are different problems this time, that may or may not affect RE, if we don't go into a prolonged recession we are likely to maintain the status quo, if we do the likely culprits to affect RE are oversupply due to people forced to sell because of job loss and a reduced buyer pool also due to job loss.

  • Real Estate Agent · Las Vegas, NV · Member since 2016 · 107 posts · 57 votes
    6y

    @Account Closed except for the fact that the no revenue is not permanent... 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.