Episode 36: Are We Heading For A Crash? with Kyle Seagraves
Is the housing market going to crash like it did in 2008? In today’s episode Kyle and I will discuss the similarities and differences between the 2008 housing market and the current housing market so you can make smart decisions.
Historically, home value increases over time, usually around 4% per year. This appreciation is closer to 18-20% over the last few years. There was a similarly large increase in home values before the 2008 crash, so it’s understandable that people are wary.
The big difference is that in 2006-ish, there were a lot of bad loans being made, a lot of predatory lending practices being used, and since then a lot of safeguards have been put in place. At this point, it’s probably not worth waiting for prices to drop because the current appreciation is based on supply and demand. Historically, even if you did buy your house at the height before a drop, it only took 3-6 years for the value to come back up so you could break even.
Education and planning is your best bet. Make decisions for the long haul, and stick with them.
Connect with Kyle:
Purchase Price Calculator: https://www.winthehouseyoulove.com/max-purchase-price-calculator
LoanClarity Advisor: https://www.winthehouseyoulove.com/advisor
On YouTube: https://www.youtube.com/c/WinTheHouseYouLove
Online: https://www.winthehouseyoulove.com/
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Music credit: Neon Fairies by Wolves
A Podcast Launch Bestie production
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DISCLAIMER:
I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.