This is Not a Housing Bubble
A recent survey revealed that many consumers believe there’s a housing bubble beginning to form. That feeling is understandable, as year-over-year home price appreciation is still in the double digits. However, this market is very different than it was during the housing crash 15 years ago. Here are four key reasons why today is nothing like the last time.
1. Houses Are Not Unaffordable Like They Were During the Housing Boom
2. Mortgage Standards Were Much More Relaxed During the Boom
3. The Foreclosure Situation Is Nothing Like It Was During the Crash
4. We Don’t Have a Surplus of Homes on the Market – We Have a Shortage
Bottom line, if you’re worried that we’re making the same mistakes that led to the housing crash, the graphs above show data and insights to help alleviate your concerns.
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