I doubt this headline ‘ story. 2008 housing crash was very interesting and intense.
“I doubt this headline ‘ story. 2008 housing crash was very interesting and intense.”
Yes, and this decline is nothing like that one. In 2008-2011 we had a huge overhang of housing supply, a much higher unemployment rate, much less average cash per household, lower credit ratings, a lot less free and clear real estate.
We are at a record high of 37% of American homes having no mortgage. Put that together with other people who owe less than half their home’s value and that’s quite a cushion.
The opportunities coming soon in real estate will be picked up quickly because there is so much cash out there. There will also be less distressed properties available than in 2009-2012. It will be good hunting but not fantastic like last time.