Is current housing market slowdown similar to 2008 crash?

Samantha DeBianchi, founder of DeBianchi Real Estate, recommends 'shopping out mortgage rates' as the 30-year fixed rate sits above 5%.

"Certainly we’re looking at a slower period, but we still have a lot of need out there, and housing affordability is the worst it’s been in most people’s lifetime," Dworkin noted. that the national median single-family existing-home price rose 14.2% annually to $413,500, surpassing $400,000 for the first time, according to the National Association of Realtors.

"In markets where you’re going to continue to have a steady demand — Florida may be one of those — then you’re to going to see a much smoother recessionary impact, which I think is what we really are dealing with here," Dworkin told host"And you’re also going to see in many markets that have not seen a huge increase, but have kind of been pretty normal, you’re going to have them remain largely so.

"Now, that’s a real problem for Chairman Powell, because one of the ways he controls inflation is by raising rates and if the supply remains out of match with demand, then the big tool in his toolbox is definitely blunted."

It’ll be worse.

No. 2008 crash was caused by mortgage brokers making thousands of fraudulent loans.

No

Nope...2008 was govt created by the Volker Rule intended to bailout a few people This crash is due to bad fiscal policy by federalreserve and POTUS The downturn will last longer and states will see property tax revenue dry up

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