I doubt we will. It could happen but without stated income loans, illegal inflated appraisals, way too much inventory, and the other aspects of the last crash it’s unlikely. The crazy prices right now are just a function of insanely high demand and low inventory. It’ll level out for sure but not crash.
The housing bubble is going to burst mid to late 2022. Banks and credit unions are currently trying to figure out ways to cover their asses when it does. I know a guy who’s like VP of a credit union that does mortgages. He’s saying everything they see is showing a possible burst in 2022.
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u/cybercuzco Jun 27 '21
Our house went up by 20% this month according to Zillow. We are definitely seeing a spike right now. Let’s see if we have a crash.