Home sales are starting to slump, days on market continue to climb, and price drops are becoming the new norm. Are we on the cusp of a 2008 housing market crash repeat? Or, are these eerily similar signs of a large-scale sell-off just coincidental, without much backing behind them? The On The Market Team wanted to know exactly how close we are to repeating the same mistakes from fourteen years ago, and whether or not the runup in buying activity over 2020 and 2021 could lead to a lackluster housing market for years to come.
We’ve brought our entire panel of experts back on the show so we can get an up-to-date read on everything happening in today’s housing market. With fears of a recession on the horizon, buyers and sellers live in fear of what could happen next. But are these “panicky” investors looking at the full data set that Dave and the rest of the team have been able to dig up?
In this episode, we’ll compare four of the most important metrics that could influence today's housing market to 2008 data. These include consumer debt and mortgage quality, defaults and home foreclosures, housing market inventory, and appreciation and growth rates. Are we closer to a housing market apocalypse than we thought or are media outlets using a “crash” as a fear tactic to keep homebuyers out of the loop?
In This Episode We Cover
August housing market data and whether or not real estate still looks strong
Crash vs. correction predictions and which way the market could slide
Mortgage quality stats and where modern-day homebuyers stand when compared to 2008
A massive year-over-year increase in foreclosures and how it may hurt the housing market
Demographic data that could force first-time homebuyers to get even more desperate
Lessons learned from the 2008 crash and what experts and investors warn against
And So Much More!
Links from the Show
BiggerPockets Forums
BiggerPockets Agent
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Find an Investor Friendly Agent in Your Area
Dave’s BiggerPockets Profile
Dave’s Instagram
Henry's BiggerPockets Profile
Henry's Instagram
James' BiggerPockets Profile
James' Instagram
Jamil's BiggerPockets Profile
Jamil's Instagram
Kathy's BiggerPockets Profile
Kathy's Instagram
Hear Our Interview About Foreclosures with Rick Sharga
Get Redfin’s Up-To-Date Housing Market Data
Key Takeaways From the ’08 Recession That Apply Today
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-34
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