The Property Market Is Different to 2009
There is no doubt today’s housing market is very different from the crisis of 14 years ago. There has been a shift during this year and many people are comparing the market to the 2009 housing crisis.
There may be a few similarities when looking at key variables now, compared to the last housing cycle. But there are significant differences.
Today’s market is rife with opportunity. There is more stock available and fewer buyers. This could be a window of opportunity to get into a buyer’s market. One should bear in mind that home prices only go up. They always recover from recessions no matter how mild or severe.
Buyers should see the current market as a unique opportunity for the long term. This may be the time for buyers to grab the chance of getting into the market.
Sellers, however, should view it as a good time to sell, as astute buyers are out there buying properties.
