How are we not in a housing bubble?
Looking at the history of the housing market, we are not in the place where the market is ready to burst. And I'm going to break that down for you.
Hi, I'm Stephanie Martenzi, Supermom Superagent with Southland Properties. If we take a look at the history of modern housing market looking specifically at prices, we see that there was only one significant fall in home value and that was in 2008.
There are two major reasons for this, loose lending standards and cash out refinances. People could apply for a loan they didn't truly qualify for, then take cash out of their home to finance a lifestyle change.
But will we see something similar today?
As Danielle Hale from Realtor.com says, we have learned from history that prices can fall. The more important question is if it's going to happen right now and that's hard to say. The last two years have been unprecedented and have led us to this point. Unprecedented times lead to unknown results. But one thing we do know, this is not 2008.
If you have any other questions about the market feel free to reach out to me and I can help you decide what's best for you and your family in this market.
This is Stephanie Martenzi, Supermom Superagent with Southland properties here to help you have a super fun, empowered and informed real estate experience by guiding you every step of the way. If you see me out in the community, make sure to say hi.
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