You might be worried we’re heading for a housing crash, but there are many
reasons why this housing market isn’t like the one we saw in 2008. One of
which is how lending standards are different today. Here’s a look at the
data to help prove it. 

One of the major questions real estate experts are asking today is whether
prospective homebuyers still believe purchasing a home makes sense. Some
claim rapidly rising home prices are impacting demand and, by extension,
leading to the recent slowdown in sales activity.

Headlines matter. Right now, it’s hard to read about real estate without
seeing a headline that suggests homes have become unaffordable for most
Americans.

’s because some only consider the fact that residential real estate prices
have continued to appreciate. However, we must realize it’s not just the
price of a home that matters, but the price relative to a purchaser’s
buying power.

There is a lot of uncertainty regarding the real estate market heading into
2019. That uncertainty has raised concerns that we may be headed toward
another housing crash like the one we experienced a decade ago.

Here are four reasons why today’s market is much different

They’re the generation of people born between the 1980s to early 2000s, or
also called the Generation Y. Many stereotypes have influenced how they
have been viewed by the public, including the typical assumptions that they
jump from one job to another, that they couldn’t even save for a down
payment, or that they overspend.

With all of the volatility in the stock market and uncertainty about the
Coronavirus (COVID-19), some are concerned we may be headed for another
housing crash like the one we experienced from 2006-2008.

Spring is almost here, and many are wondering what it will bring for the
housing market. Even though the pandemic continues on, it’s certain to be
very different from the spring we experienced at this time last year.

If buying a home is on your goal sheet this year, there are things you need
to do now to make it happen. But above all else, connect with a trusted
agent and lender so you have expert advice every step of the way.