Retiring & Worried About a Housing Crash?
Whether you live in California or Puerto Rico, you’ll receive quite a bit of useful information from this article.?Many homeowners thinking about retiring are worried if one of their biggest assets, real estate, is about to plummet.??Are you retiring & worried about a housing crash?
In this article we will make the case that although a few housing data points are elevated; This is not currently the 2007 Housing Bubble. You will see after reviewing five key drivers, that housing today is rising for the right reasons, and the housing sales forecast is not as bleak as it may seem.
The home Real Estate market has been appreciating dramatically through the pandemic and into late 2021; The Federal Reserve's?latest findings?show that, within the first three months of this year, net worth for U.S. households rose by $960 billion solely based on the value of real estate owned."
"Prices are now 41% higher than their last peak during the housing boom in 2006"?
CNBC?recently reported that in August?"The 10-City composite rose 18.6%,?down from 19.2% increase in the previous month" and "The 20-City composite was up 19.7%, down from 20% increase in the previous month." According to the?S&P CoreLogic Case-Shiller?Index report, Phoenix led?the way with a 33.3% year-over-year price increase, followed by San Diego with a 26.2% rise?. This brings up the question.?Are we are in another 2007 housing bubble and why is this different?
Why is this housing market different that the 2007 downturn???The key housing market data differentiating the current real estate market from the 2007 real estate market,?are positive events for housing that we did not have in 2007.
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