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Simplifying the Market Articles • September 29, 2023

Why Today’s Market is Not Headed Toward a Crash

by LINDSAY HOYT HUNT

A great article on why today’s housing market is not showing a crash. A few things to note: 

  1. Housing supply has increased since last year, but the bottom line is that it is still low. Therefore, there are simply not enough homes available to make home values decrease. To repeat 2008, there would need to be a substantially higher amount of people selling their homes with very scarce buyers dabbling in the market. 
  2. Concerns about overbuilding in the housing market are valid and have been raised in various regions and markets, but it’s important to note that the situation can vary greatly by location and is influenced by many factors. 
  3. In 2008, lax lending standards allowed many people to obtain home loans they ultimately couldn’t afford. When home prices began to decline, and interest rates increased, many homeowners found themselves unable to make their mortgage payments, leading to a wave of foreclosures and distressed properties flooding the market. Since the housing crisis, there have been significant changes in lending standards and regulations to reduce the risk of borrowers taking on loans they can’t afford and to prevent a repeat of the foreclosure crisis.

So what does this mean for you? 

While a repeat of the 2008 housing crisis may be unlikely in the current environment, unforeseen events and economic shifts can still impact the real estate market. Staying informed and making wise financial decisions remains crucial for both buyers and sellers in the housing market. Consulting with real estate experts and financial advisors can provide valuable guidance tailored to your specific circumstances. 

If you are considering buying or selling, please reach out with any questions you have. I would love to breakdown some of the confusion surroundingour current market –

NOW IS STILL THE TIME TO SELL! 

Lindsay H. Hunt, Realtor | 706.266.1335

Hardy Realty & Development Co. | 706.291.4321

https://www.simplifyingthemarket.com/en/2023/09/27/why-todays-housing-inventory-shows-a-crash-isnt-on-the-horizon?a=1000012522-4e6b82e07ae6fb01ecc9ba87a8055602

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