Housing Experts Say This Isn’t a Bubble

<article class="post-373846 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-373846"><span class="entry-date">July 14, 2022</span><div class="entry-header center-block text-center"><h1 class="entry-title">Housing Experts Say This Isn’t a Bubble</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Housing+Experts+Say+This+Isn%E2%80%99t+a+Bubble&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fhousing-experts-say-this-isnt-a-bubble%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p><img alt="Housing Experts Say This Isn’t a Bubble | Simplifying The Market" class="webfeedsFeaturedVisual wp-post-image" decoding="async" link_thumbnail="" loading="lazy" sizes="auto, (max-width: 549px) 100vw, 549px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2022/07/13151549/20220714-KCM-Share-549×300.jpg" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2022/07/13151549/20220714-KCM-Share-549×300.jpg 549w, https://files.simplifyingthemarket.com/wp-content/uploads/2022/07/13151549/20220714-KCM-Share.jpg 750w" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" width="358"/></p>
<p>With so much talk about an <a href="https://www.simplifyingthemarket.com/2022/06/03/history-proves-recession-doesnt-equal-a-housing-crisis-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2">economic slowdown</a>, some people are asking if the housing market is heading for a <a href="https://www.simplifyingthemarket.com/2022/06/27/two-reasons-why-todays-housing-market-isnt-a-bubble/?a=712984-fa409495d5d70154d03a25e81e9540e2">crash</a> like the one in 2008. To really understand what’s happening with real estate today, it’s important to lean on the experts for reliable information.<span id="more-46827"></span></p>
<p>Here’s why economists and industry experts say the <a href="https://www.simplifyingthemarket.com/2022/06/14/is-the-housing-market-correcting/?a=712984-fa409495d5d70154d03a25e81e9540e2">housing market</a> is not a <a href="https://www.simplifyingthemarket.com/2022/04/21/why-this-housing-market-is-not-a-bubble-ready-to-pop/?a=712984-fa409495d5d70154d03a25e81e9540e2">bubble</a> ready to pop.</p>
<h4><strong>Today Is Nothing Like 2008</strong></h4>
<p>The 2008 housing crash is still fresh in the minds of many homebuyers and sellers. But today’s market is different. Odeta Kushi, Deputy Chief Economist at <em>First American,</em> <a href="https://www.businessinsider.com/housing-crash-unlikely-but-correction-is-probable-2022-5">says</a>:</p>
<blockquote>
<p><em>“This is not the same market of 2008. . . . It’s no secret the housing market played a central role in the Great Recession, but this market is just fundamentally different in so many ways.”</em></p>
</blockquote>
<p>Natalie Campisi, Advisor Staff for <em>Forbes</em>, <a href="https://www.forbes.com/advisor/mortgages/real-estate/will-housing-market-crash/">explains</a> how today’s <a href="https://www.simplifyingthemarket.com/2022/06/01/why-home-loans-today-arent-what-they-were-in-the-past/?a=712984-fa409495d5d70154d03a25e81e9540e2">lending standards</a> are different than those during the lead-up to the housing market crash:</p>
<blockquote>
<p><em>“Among the differences between today’s housing market and that of the 2008 housing crash is that lending standards are tighter due to lessons learned and new regulations enacted after the last crisis. <strong>Essentially, that means those approved for a mortgage nowadays are less likely to default than those who were approved in the pre-crisis lending period</strong>.”</em></p>
</blockquote>
<p>Another reason today’s housing market is nothing like 2008 is that the number of people looking to buy a home still outweighs the supply of homes for sale. As <em>realtor.com</em> <a href="https://www.realtor.com/news/trends/housing-market-showing-signs-of-correction-what-buyers-sellers-need-to-know/">notes</a>:</p>
<blockquote>
<p><strong><em>“</em></strong><em>. . .<strong> experts don’t believe the market is in a bubble or a crash is in the cards, like during the Great Recession.</strong> The nation is still suffering from a housing shortage that has reached crisis proportions at a time when many millennials are reaching the age when they start to consider homeownership. That’s likely to keep prices high.”</em></p>
</blockquote>
<h3><strong>Bottom Line</strong></h3>
<p>Experts say the housing market isn’t a bubble, and we’re not heading for a crash. Let’s connect so you can have a full picture of today’s housing market in our local area.</p>
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