Many ask are we in a housing market bubble in 2022? As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get more tighter. This typically happens in a recession. Housing experts say this is not a bubble. In this economic slowdown, many are talking about we are heading for a housing market crash like in 2008. To really understand real estate today, it is important to lean on experts for reliable information and that is on the pulse of the housing market for you. Economists and industry experts say that the housing market is not a bubble ready to pop.
This is a different housing market than the 2008 season, however it is not a secret at a that the housing market has played a main role in the great recession, but this market is just fundamentally different in so many ways.
One huge difference is that there are a number of people looking to buy homes still out weighs the supply of homes for sale. Another is that the lending practices are much tighter standards with lessons learned, new regulations from 2008.
/HOME-LOANS---32819---32836---Orlando-Florida-6-22489.html Currently those approved for mortgages are less likely to default than those who who were approved in the pre-crisis lending period of 2008. Lastly, forbearances kept thousands of families in their homes versus a short sale or foreclosure on a home.
The nation is still suffering from a housing shortage that has reached crisis proportions at a time when many millennials are reaching the age when they can start to consider homeownership. That is likely to keep prices high in the meanwhile.
As we transition into this last wave since the huge interest rate spike, this is likely time to cash in on high dividends. The housing market is currently under a housing market correction /HOUSING-MARKET-CORRECTING---32819---32836---Dr-Phillips-6-22828.html As we enter the last six months of 2022 prices have been lowered by homeowners for buyers to afford to buy. This is what the FEDS want to happen. Economist predict that this is the time to maximize profits. /IS-IT-A-GOOD-TIME-TO-SELL-MY-HOME---32819---32836---Dr-Phillips-6-22733.html
Once again experts say that the housing market is not a bubble that is going to explode and we are not heading for a market crash. We are purely in an economic slow down phase as of June 2022 /ECONOMIC-SLOWDOWN---32819---32836---Dr-Phillips-6-22903.html The rising of interest rates were purely to slow the purchasing of homes down and to push a reset and level out the market prices of homes. It is still cheaper to buy versus renting with so many benefits /BUYING-VERSUS-RENTING---32819---32836---Dr-Phillips-6-18852.html. Let's connect with Kevin Strawter today at 407 479-8583 as your trusted advisor to guide your footsteps in the right path to sell or buy a home.