Wondering if we’re in a housing bubble? If so, you’re not alone.
Here’s the latest on what experts over at Bloomberg Business are saying about the current housing boom.
No doubt today’s environment feels a lot like the bubble market in 2006, but don’t worry, there are a few “market” differences:
Loans are much harder to get today than in 2006. Lenders have raised lending standards and loans are smaller in proportion to house values and borrowers’ income. Translation? Buyers can’t weasel their way into loans like they used to.
The main factors in the current price runup are tight supply and strong demand, not sloppy lending.
Many think the boom has been years in the making. Having overbuilt in the 2000s, homebuilders underbuilt in the 2010s—and now, it’s playing catch up.
Yes, home prices are soaring, but the market is strong with no hint of slowing down. If you’re curious about buying or selling right now, I’d love to connect. Reach out and let’s talk.