Are We Heading for Another Meltdown?

A market correction is coming, but when? How bad will it be? We have the answers for you.

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Could we be on the verge of another housing market meltdown?

Absolutely. I’ve been in real estate for 30 years and the market corrects itself every seven or eight years without fail. The last correction was in 2009. We’re due for another.

Basic economics says supply and demand is a big indicator of where the market’s going. If our supply is consistently exceeding our demand, that will absolutely cause a correction.

We’re due for a correction soon.

Another key indicator with each is interest rates. When they go up, prices go down. The same is true for what builders are doing. When they are offering incentives for brokers to come in and sell their inventory, we know that demand isn’t quite as high.

Finally, the unemployment rate. At the time of the last correction, it was around 9.5%. Right now, it’s down to 4.6% nationwide, which means there are more people out there who can afford homes.

If you have any other questions for me about the market or if you’re thinking about buying or selling in sunny San Diego, give me a call or send me an email today. I would be glad to help.


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