Bubbles And Stuff… Boston Condos For Sale Ford Realty

Bubbles and stuff…

Boston Condo for Sale Search

Bubbles and stuff…

A former federal regulator who served when the 2006 housing bubble burst is concerned that today’s housing market is on an unsustainable path.

The housing market’s affordability is worse than it’s been in decades as mortgage rates toy with 8%. The median price of a U.S. home was $322,500 in the second quarter of 2019. Then the pandemic housing rush hit, and prices across the nation shot up. High mortgage rates sent sales spiraling, but home prices only experienced a minor correction before heading back up. In the second quarter of this year, the median price was $416,100, according to the Federal Reserve Bank of St. Louis.

“Talk about a bubble. That’s a classic supply-demand imbalance,” Sheila Bair recently told CNN.

Even though Bair said home prices need to correct downward, she doesn’t expect that it will happen anytime soon because the U.S. is also experiencing a housing shortage, which has helped keep home prices high even amid today’s high rates, per CNN.

“If supply remains constrained, this could go on for some time,” she told CNN.

Bair doesn’t expect the bubble to burst, but she said “letting that bubble deflate a bit would probably be a good thing.”

“People who already own their home — and I’m one of them — don’t want to hear that,” Bair told CNN. “But for those who want to own, I hope home prices do come down.”

Boston condos for Sale and the Bottom Line

The good news is that Bair said she sees “much less speculation in the housing market today, thank goodness,” compared to the mid-2000s, per CNN. She also noted that even if prices come down, existing homeowners have built up a significant amount of home equity over the past several years alone.

So “even if home prices adjust a bit, people should not be under water,” Bair told CNN.

Source: https://www.deseret.com/utah/2023/10/11/23913151/housing-market-bubble-crash-pop-deflate-sheila-bair

Updated: Boston condos for sale 2023

____________________________________________________________________________________________________

With so much talk about an economic slowdown, some people are asking if the Boston condo for sale market is heading for a crash like the one in 2008. To really understand what’s happening with real estate today, it’s important to lean on the experts for reliable information.

Here’s why economists and industry experts say the housing market is not a bubble ready to pop.

Today’s Boston Condo for Sale Market is Nothing Like 2008

The 2008 housing crash is still fresh in the minds of many homebuyers and sellers. But today’s market is different. Odeta Kushi, Deputy Chief Economist at First American, says:

“This is not the same market of 2008. . . . It’s no secret the housing market played a central role in the Great Recession, but this market is just fundamentally different in so many ways.”

Natalie Campisi, Advisor Staff for Forbes, explains how today’s lending standards are different than those during the lead-up to the housing market crash:

“Among the differences between today’s housing market and that of the 2008 housing crash is that lending standards are tighter due to lessons learned and new regulations enacted after the last crisis. Essentially, that means those approved for a mortgage nowadays are less likely to default than those who were approved in the pre-crisis lending period.”

Another reason today’s housing market is nothing like 2008 is that the number of people looking to buy a home still outweighs the supply of homes for sale. As realtor.com notes:

“. . . experts don’t believe the market is in a bubble or a crash is in the cards, like during the Great Recession. The nation is still suffering from a housing shortage that has reached crisis proportions at a time when many millennials are reaching the age when they start to consider homeownership. That’s likely to keep prices high.”

Boston condos for Sale and the Bottom Line

Experts say the housing market isn’t a bubble, and we’re not heading for a crash. Let’s connect so you can have a full picture of today’s housing market in our local area.

Updated: Boston Real Estate Blog 2022

Click to View Ford Realty Google Reviews

____________________________________________________________________________________________________________________________________

If you want to read a good analysis of what’s going on in the Massachusetts home & condo sales market, I can highly recommend the Massachusetts Association of Realtors’ website.

They collect monthly sales data and compare it to previous months’ and years’ results

For more information please contact one of our on-call agents at 617-595-3712.

Update: October 2020

Boston condos for sale $500,000

Boston condos for sale $500k

Boston condos for sale $600,000

Boston condos for sale $600k

Boston condos for sale $700,000

Boston condos for sale $700k

Boston condos for sale $800,000

Boston condos for sale $800k

Boston condos for sale $900,000

Boston condos for sale $900k

Beacon Hill condos for sale

Boston Midtown condos for sale

Back to Boston condos for sale homepage

Contact me to find out more about Boston condos for sale or to set up an appointment call/text 617-595-3712.

Boston condos

Boston condos for sale

For more information please contact one of our on-call agents at 617-595-3712.

Condos around Boston to buy:

Condos around Boston to rent:

Back to homepage: Boston condos for sale

Ford Realty – Boston Real Estate Google Reviews 2021 and 2022

Bubbles and stuff…