It’s Joe 🙂 And I want to be clear. This housing market is not a bubble. That’s about to burst the facts. Just don’t support it. If you see the graphic below, you see home prices, home values going all the way back to world war II. And there’s one time in this country where homes lost significant value and that’s in the 2008 crisis and it happened.
Homeowners weren’t qualified for the mortgages they had. And second, they use their homes as ATM’s and cashed out their equity. So homes lost value. They were underwater and they weren’t. Three things that are different about today’s housing market one, you have to qualify for the mortgage that you have.
Second people aren’t using their homes as ATM’s today. And third, according to first American, the average equity in the home today is $307,000. Nobody’s walking away from $307,000. Have questions about the housing market? Love to help 🏡❤️ 520-406-2201
