Is current housing market slowdown similar to 2008 crash?

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 53%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

National Housing Conference CEO David Dworkin weighs in as to whether the current housing slowdown is at all similar to the crisis experienced more than a decade ago.

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."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Robert Kiyosaki Says Real Estate, Stocks, Gold, Silver, Bitcoin Markets Are Crashing — 'Millions Will Be Wiped Out' – Markets and Prices Bitcoin NewsRich Dad Poor Dad author Robert Kiyosaki says all markets are crashing, specifically naming real estate, stocks, gold, silver, and bitcoin. $BTC cryptocurrency Will this be historyy in the makingg? Aren’t you surprised to see no onee is talkinnn about this? Whyy ain’tt none bothered on talkinn about this?
Source: BTCTN - 🏆 531. / 51 Read more »

Rising interest rates could leave demand in the housing market ‘quashed,’ expert warnsNational Association of Home Builders CEO Jerry Howard discusses Jerome Powell's signal for another rate hike and how that will impact the housing market. I have a brilliant idea. Give each potential buyer 100k to put towards the purchase of the home! Problem solved! And it can be paid for by those that have already paid off their homes!!! The idea seems so Presidential!!!! Check Out Kobe Coin $KOBE Based Dev ,Amazing community Low MCAP GEM 8% Binance-Peg BUSD Rewards only and 24000 total Supply Telegram: Kobecoinbsc ONLY 24,000 SUPPLY ARE YOU 1 in 24,000? 5% currently at our bank. First house in 1985 was 11.5%.
Source: FoxBusiness - 🏆 458. / 53 Read more »

These are the hottest ZIP codes in metro Denver’s housing market right nowMetro Denver’s housing market has exited the pandemic-induced fever that dominated last year and the first half of this year — a surge in activity and prices unlike any the region has e…
Source: denverpost - 🏆 13. / 72 Read more »