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Is a Housing Market Crash Coming?

Headlines do more to terrify than they do to clarify! A lot of the headlines right now are saying that we are going to experience a housing market crash. 

Are we heading to a housing market crash? Ryan Haley offers some explanation to refute that notion.

Forty-one percent of Americans believe that in the next 12 months, we will see a housing market crash. At the same time, 72 percent of those Americans think that the crash could be worse than 2008. When that’s just simply not the case. 

There are some big differences than what we saw 15 years ago. Fifteen years ago, we had 8 million job cuts. In contrast, today, we have virtually none. Subprime loans back then were prevalent, whereas today, there’s virtually none. New construction is nowhere near at the level of what we saw back then, thus, not enough homes. 

When it comes to mortgage delinquency, back then10.1 percent of the homes were in mortgage delinquency. Fast forward to today, it’s 3.6 percent. Homes in foreclosure—and this is a big one—back then was at 4.6 percent. Today, it is just 0.6 percent of the homes are actually in foreclosure. 

So, today’s market is nothing like it was 15 years ago in 2008.

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