6 Major Differences Between This Real Estate Market Vs. 2008.

Here are 6 dramatic differences:

1. Mortgage standards are nothing like they were back then. The loan product risk actually matches the risk of the borrower. 

2. Prices are appreciating at a much more reasonable rate. Much closer to inflation and the rise in median household income.

3. We don't have a surplus of homes on the market, we have a shortage.

4. New construction isn't making up the difference in inventory needed. 

5. When looking at the percentage of median income needed to purchase a home, houses are actually much more affordable than the past. 

6. People on average have much more equity in their homes, and are holding on to it.