34: Crash or Correction: Are We Repeating 2008’s Mistakes?

Home sales are starting to slump, days on market continue to climb, and price drops are becoming the new norm. Are we on the cusp of a 2008 housing market crash repeat? Or, are these eerily similar signs of a large-scale sell-off just coincidental, without much backing behind them? The On The Market Team wanted to know exactly how close we are to repeating the same mistakes from fourteen years ago, and whether or not the runup in buying activity over 2020 and 2021 could lead to a lackluster housing market for years to come.We’ve brought our entire panel of experts back on the show so we can get an up-to-date read on everything happening in today’s housing market. With fears of a recession on the horizon, buyers and sellers live in fear of what could happen next. But are these “panicky” investors looking at the full data set that Dave and the rest of the team have been able to dig up?In this episode, we’ll compare four of the most important metrics that could influence today's housing market to 2008 data. These include consumer debt and mortgage quality, defaults and home foreclosures, housing market inventory, and appreciation and growth rates. Are we closer to a housing market apocalypse than we thought or are media outlets using a “crash” as a fear tactic to keep homebuyers out of the loop?In This Episode We CoverAugust housing market data and whether or not real estate still looks strongCrash vs. correction predictions and which way the market could slideMortgage quality stats and where modern-day homebuyers stand when compared to 2008A massive year-over-year increase in foreclosures and how it may hurt the housing marketDemographic data that could force first-time homebuyers to get even more desperateLessons learned from the 2008 crash and what experts and investors warn againstAnd So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets AgentJoin BiggerPockets for FREEOn The MarketJoin the Future of Real Estate Investing with FundriseConnect with Other Investors in the “On The Market” ForumsSubscribe to The “On The Market” YouTube ChannelFind an Investor Friendly Agent in Your AreaDave’s BiggerPockets ProfileDave’s InstagramHenry's BiggerPockets ProfileHenry's InstagramJames' BiggerPockets ProfileJames' InstagramJamil's BiggerPockets ProfileJamil's InstagramKathy's BiggerPockets ProfileKathy's InstagramHear Our Interview About Foreclosures with Rick ShargaGet Redfin’s Up-To-Date Housing Market DataKey Takeaways From the ’08 Recession That Apply TodayCheck the full show notes here: https://www.biggerpockets.com/blog/on-the-market-34Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

On The Market