{"id":2462,"date":"2018-08-16T10:00:58","date_gmt":"2018-08-16T10:00:58","guid":{"rendered":"https:\/\/thezakariagroup.com\/housing-market-another-gigantic-difference-between-2008-and-2018\/"},"modified":"2018-08-16T10:00:58","modified_gmt":"2018-08-16T10:00:58","slug":"housing-market-another-gigantic-difference-between-2008-and-2018","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/housing-market-another-gigantic-difference-between-2008-and-2018\/","title":{"rendered":"Housing Market: Another Gigantic Difference Between 2008 and 2018"},"content":{"rendered":"
\n

\"Housing<\/p>\n

Some are attempting to compare the current housing market to the market leading up to the \u201cboom and bust\u201d that we experienced a decade ago. They look at price appreciation and conclude that we are on a similar trajectory, speeding toward another housing crisis.<\/span><\/p>\n

However, there is a major difference between the two markets. Last decade, while demand was being artificially created by extremely loose lending standards, a tremendous amount of inventory was coming to the market to satisfy that demand. Below is a graph of the\u00a0inventory of homes available for sale leading up to the 2008 crash.<\/p>\n

\"Housing<\/a><\/p>\n

A normal market should have approximately 6 months supply of housing inventory. As we can see, that number jumped to over 11 months supply leading up to the housing crisis. When questionable mortgage practices ceased, and demand dried up, there was a glut of inventory on the market which caused prices to drop as there was too much supply and not enough demand.<\/p>\n

Today is radically different!<\/strong><\/h4>\n

There are those who believe that low mortgage rates have created an artificial demand in the current market. They fear that if mortgage rates continue to rise, some of the current demand will dry up (which is a possibility).<\/p>\n

However, if we look at supply again, we can see that the current\u00a0supply of homes is well below the norm of 6 months.<\/p>\n

\"Housing<\/a><\/p>\n

Bottom Line<\/strong><\/h3>\n

We will not have a glut of inventory like we did back in 2008 and home values won\u2019t come tumbling down. Instead, if demand weakens, we will return to a normal market (approximately a 6-month supply) with historic levels of appreciation (3.6% annually).<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Some are attempting to compare the current housing market to the market leading up to the \u201cboom and bust\u201d that we experienced a decade ago. They look at price appreciation and conclude that we are on a similar trajectory, speeding toward another housing crisis. However, there is a major difference between the two markets. Last […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[98,99,100,102,101],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nHousing Market: Another Gigantic Difference Between 2008 and 2018 - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/housing-market-another-gigantic-difference-between-2008-and-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Housing Market: Another Gigantic Difference Between 2008 and 2018 - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"Some are attempting to compare the current housing market to the market leading up to the \u201cboom and bust\u201d that we experienced a decade ago. 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