How’s it going, guys? Today, I want to tell you my 18–24-month prediction on this question: “Is the housing market about to crash?”
Real estate interest rates that were 2 or 3% last year are now up to 5%!
What do higher rates do to a housing market?
In my video, I said…
“It doesn’t allow as many sellers to qualify for mortgages or want to take on that type of a mortgage.”
Here’s another crazy statistic…
Across the US right now, homes are up 54% more than they were 5 years ago!
3 things are allowing many people to enter the housing market:
- Shortage of homes
- Low interest rates
So, Will This Bubble Pop??
Is the housing market about to crash?
After 4 months of submitting countless documents and getting several background checks, I still haven’t been approved to buy this rental property that I want!
It’s frustrating, but all of this made me realize that there will not be another 2008 real estate crash because lenders are now doing their due diligence.
“This means that there will be more responsible loans that won’t default as easily.”
3 More Reasons Why
- Higher interest rates will price some people out of the market, but large corporations and business owners are still gobbling up homes at a rapid pace
- We are still short of homes
- Increasing Inflation
That’s it for today!
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DISCLAIMER: This content is for educational and informational purposes only. It is not to be taken as tax, financial, or legal advice. You should always consult a legal professional before taking action. Furthermore, this is not a recommendation to buy or sell any security. The content is solely just the opinion of the authors.