Ten years, huh? That means as high as it was just before the last crash.
I think Trump’s great and all, but if this whole thing is propelled by faith, well, faith is fleeting.
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The market is driven by supply and demand as it always has been. The crash was caused by loose lending regs which allowed people who had NO business buying a home to in fact buy one. Then these same regulations allowed these people to refinance every few months and take their equity out of the house as the values rose. The crash happened when these people could no longer recast their adjustable rate mortgages (ARM)and were forced to pay large monthly payment increases.
The lending regs have been tightened very considerably and what happened in the past will not happen in that same way again. As soon as the homes available matches the demand for those homes prices will level off. The markets work every time if allowed too perform.
Actually, they’ve loosened again recently. It’s why I’ve been watching for this. I don’t have time to look up links, but am just sharing the background from where my post was coming.
Heck, I didn’t realize how easy it would be to find. Check out this information: