Hoping for a housing market crash to bring prices down? Here’s why experts say that is unlikely… Unlike the pre-2008 crash era, today’s market is built on stronger foundations.
🏦 Tougher lending standards mean fewer risky mortgages, reducing the likelihood of mass defaults and foreclosures. Plus, with fewer homes for sale now compared to the surplus during the housing crisis, there’s less chance of prices plummeting.
💰 Homeowners are also more financially cautious, with fewer tapping into their home equity. In fact, available equity has hit an all-time high, providing a safety net for homeowners and limiting distressed properties on the market.
📉 So, while you may be holding out hope for a price drop, the data paints a different picture. Today’s market is resilient, with safeguards in place to prevent a repeat of the past.
Don’t wait for a crash that likely won’t come any time soon, contact me today to start the journey to homeownership