06/07/2022
Home prices and mortgage rates are on the rise, but the housing market doesn’t look like it has any indication that it will slow down. Does this mean we are on the brink of a crash?
The Federal Reserve Bank released a report end of March where they said despite the crazy market “there is no expectation that fallout from a housing correction would be comparable to the 2007–09.”
Why is this?
1. Demand from Millenials and Gen Z is still strong.
2. Supply still can’t keep up with the demand.
3. Lending standards now mean borrowers are less likely to default.
While there are many other factors including inflation and a possible recession, Forbes quotes the report saying, “Household balance sheets appear in better shape, and excessive borrowing doesn’t appear to be fueling the housing market boom,” said the report, adding that market participants and regulators are better equipped with tools and early warning detectors to thwart such a crisis.”
Contact me today to learn more about the real estate market and know all your options!
NATHALIA VILLELA
REALTOR
(561)562-3024
[email protected]