Tuesday Tip. The graph below compares the equity withdrawal over the last 3 years compared to 05, 06, & 07. Homeowners have cashed out over $500 billion dollars less than before. The market is nothing like 08.
This week we will be sharing different graphs to indicate the real estate market is not like 2008. This graph shows we don’t have a surplus of homes on the market. We have a shortage. Which is causing an acceleration in home values.
This week we will be sharing different graphs to indicate the real estate market is not like 2008. This graph shows Prices are not soaring out of control. House appreciation over the past 6 years, compared to the 6 years that lead up to the height of the housing bubble.
There are many reasons indicating this real estate market is nothing like 2008. The first reason is mortgage standards are nothing like they were back then based on the graph :