Is the market in a bubble situation? Is the market about ready to collapse?
Some people say that they're waiting for the market to collapse.
Well, that's not going to happen.
Here's the number one reason why:
When we look at the last market collapse that we had, which was 2008 and is still fresh in everybody's memory, it was caused by credit running amuck.
Credit was being given to people that shouldn't have been able to get a loan. In other words, there was a credit issue there.
People were getting liar loans and no doc loans. So the credit markets were out of control. They were bundling these junk mortgages and selling them on the stock market as derivatives. When that collapsed, it caused Lehman brothers and all these others to start collapsing, which caused the massive 2008 collapse in the marketplace.
Are we in that same situation today?
Absolutely not! Nothing compares to that.
In fact, right now, we have is super strict...
Hey guys, a new study from NAR shows that...
75% of homeowners in America believe now is a good time to sell.
By the way, this is way up from where it was last year at the same time when that number was about 45%.
And what's the difference?
Well, one big difference is that we've had a huge run-up in prices. So sellers are starting to say, "Hey, I can see that this could be a good time to sell because prices have gone so high."
We're also seeing the record low 60-year lows on interest rates, which is another reason why home sellers are thinking they should sell and move up to their dream home. So that's a big reason why a lot of homeowners may be considering selling.
But even though they say it's a good time to sell, does that mean they are going to sell?
Yes, they are going to sell!
According to a new study done by Zillow, 1 in 7 homeowners are planning on selling their home in the next three years.
That's a massive number guys!
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