Housing Experts Say This Isn’t a Bubble

With so much talk about an economic slowdown, many people are asking if the housing market is heading for a crash like the one in 2008. Bad news sells, but to really understand what’s happening with real estate today, it’s important to look beyond the headlines and lean on the experts for reliable information.

Here’s why economists and industry experts say the housing market is not a bubble ready to pop.

Today Is Nothing Like 2008

The 2008 housing crash is still fresh in the minds of many homebuyers and sellers. But today’s market is different. Odeta Kushi, Deputy Chief Economist at First American, says:

“This is not the same market of 2008. . . . It’s no secret the housing market played a central role in the Great Recession, but this market is just fundamentally different in so many ways.”

Natalie Campisi, Advisor Staff for Forbesexplains how today’s lending standards are different than those during the lead-up to the housing market crash:

“Among the differences between today’s housing market and that of the 2008 housing crash is that lending standards are tighter due to lessons learned and new regulations enacted after the last crisis. Essentially, that means those approved for a mortgage nowadays are less likely to default than those who were approved in the pre-crisis lending period.”

Another reason today’s housing market is nothing like 2008 is that the number of people looking to buy a home still outweighs the supply of homes for sale. As realtor.com notes:

. . . experts don’t believe the market is in a bubble or a crash is in the cards, like during the Great Recession. 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 start to consider homeownership. That’s likely to keep prices high.”

Bottom Line

Experts say the housing market isn’t a bubble, and we’re not heading for a crash. Let’s connect so you can have a full picture of today’s housing market in our local area.

We serve Tulsa County and Creek County, but specialize South of 121st Street in Bixby OK 74008, Jenks OK 74037, Mounds OK 74047, Kiefer OK 74041, Glenpool OK 74033, and Sapulpa OK 74066.

We are always here to guide and serve you for all your home buying and selling needs.  Feel free to reach out to me Sabrina Shaw, here at Homes by Sabrina, brokered by eXp Realty to discuss your specific situation.  

For more information:

eXp Realty

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