Frustrated homebuyers remember the last housing crisis and think it’s going to happen again as prices keep going higher and higher – but they’ll likely be disappointed. Some of the Highlights
Intense Buyer Demand – People from all walks of life are interested in purchasing a home. Local demand as well as out of state owner buyers and investors are interested in purchasing in Florida.
Stricter Lending Practices – Lenders are asking for higher down payments and better credit then in past times. Home loans are a lot more challenging to to get and require buyers to be in a good financial position. 2008 Crisis was caused by poor lending practice and bad loans which do not currently exist.
Shortage Of Homes – Unlike the early 2000’s which had an over supply of homes, the market currently has a significant shortage of homes.
Rising Home Prices – Increased demand with limited homes means home prices will continue to rise as demand is greater then supply and will be for the foreseeable future.
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