5 Reasons why today’s present situation is different from 2007-2008.

1. It is more difficult today to secure a mortgage than in 2007. Financing guidelines are more strict.
2. Price appreciation on homes are more stable now than in 2007.
3. In 2008, the market had an over supply of home. Today we have an under supply.
4. Much less of today’s average family’s income is going toward mortgage payments.
5. Back in the early 2000’s. homeowners used their house as an ATM machines using home equity loans to pay off credit cards, car loans, etc…

Sources for Data in Video

• https://www.nar.realtor/sites/default/files/documents/hai-01-2020-housing-affordability-index-2020-03-13.pdf
• https://www.keepingcurrentmatters.com/2020/03/16/5-simple-graphs-proving-this-is-not-like-the-last-time/