That’s an attention grabbing headline I know. Sorry about that. Do we think it’ll crash? No.
But we also didn’t see 2008 coming either. What happened in the last real estate crash is that too many people were granted access to easy financing and then the lenders decided to pin those bad loans to the global academy. Unless banks are up to the same tricks again I don’t think we’re going to see a catastrophic drop in value like last time.
I do think the market will slow down though. Because at the rate it has been going it has to. With the world coming back, people going back to the office I think the staggering demand for single-family homes will subside. And that’s not a bad thing.
We like to see balanced markets where there are a fair number of buyers and sellers, not totally lopsided as we are seeing right now. It’s frustrating for buyers and can give some sellers an unrealistic idea of what their home is worth.