{"id":2879,"date":"2020-03-18T05:00:44","date_gmt":"2020-03-18T10:00:44","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/three-reasons-why-this-is-not-a-housing-crisis\/"},"modified":"2020-03-18T05:00:44","modified_gmt":"2020-03-18T10:00:44","slug":"three-reasons-why-this-is-not-a-housing-crisis","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/three-reasons-why-this-is-not-a-housing-crisis\/","title":{"rendered":"Three Reasons Why This Is Not a Housing Crisis"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/03\/17165504\/20200318-KCM-Share-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Three Reasons Why This Is Not a Housing Crisis | Simplifying The Market\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>In times of uncertainty, one of the best things we can do to ease our fears is to educate ourselves with research, facts, and data. Digging into past experiences by reviewing historical trends and understanding the peaks and valleys of what\u2019s come before us is one of the many ways we can confidently evaluate any situation. With concerns of a global recession on everyone\u2019s minds today, it\u2019s important to take an objective look at what has transpired over the years and how the housing market has successfully weathered these storms.<span id=\"more-41959\"><\/span><\/p>\n<h4><strong>1. The Market Today Is Vastly Different from 2008<\/strong><\/h4>\n<p>We all remember 2008. <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/03\/16\/5-simple-graphs-proving-this-is-not-like-the-last-time\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">This is not 2008<\/a>. Today\u2019s market conditions are far from the time when housing was a key factor that triggered a recession. From easy-to-access mortgages to skyrocketing home price appreciation, a surplus of inventory, excessive equity-tapping, and more \u2013 we\u2019re not where we were 12 years ago. None of those factors are in play today. Rest assured, <a href=\"https:\/\/www.simplifyingthemarket.com\/2019\/10\/17\/3-reasons-this-is-not-the-2008-real-estate-market\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">housing is not a catalyst<\/a> that could spiral us back to that time or place.<\/p>\n<p>According to Danielle Hale, <em>Chief Economist <\/em>at<em> Realtor.com<\/em>, if there is a recession:<\/p>\n<blockquote>\n<p><em>&#8220;It will be different than the Great Recession. Things unraveled pretty quickly, and then the recovery was pretty slow. I would expect this to be milder. There&#8217;s no dysfunction in the banking system, we don&#8217;t have many households who are overleveraged with their mortgage payments and are potentially in trouble.&#8221;<\/em><\/p>\n<\/blockquote>\n<p>In addition, the <em>Goldman Sachs GDP Forecast<\/em> released this week indicates that although there is no growth anticipated immediately, gains are forecasted heading into the second half of this year and getting even stronger in early 2021.<a href=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/03\/17165500\/20200318-MEM-Eng-1.jpg?ssl=1\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-41960\" src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/03\/17165500\/20200318-MEM-Eng-1.jpg?resize=650%2C488&#038;ssl=1\" alt=\"Three Reasons Why This Is Not a Housing Crisis | Simplifying The Market\" width=\"650\" height=\"488\" \/><\/a>Both of these expert sources indicate this is a momentary event in time, not a collapse of the financial industry. It is a drop that will rebound quickly, a stark difference to the crash of 2008 that failed to get back to a sense of normal for almost four years. Although it poses plenty of near-term financial challenges, a potential recession this year is not a repeat of the long-term housing market crash we remember all too well.<\/p>\n<h4><strong>2. A Recession Does Not Equal a Housing Crisis<\/strong><\/h4>\n<p>Next, take a look at the <a href=\"https:\/\/www.simplifyingthemarket.com\/2019\/08\/30\/a-recession-does-not-equal-a-housing-crisis-infographic\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">past five recessions<\/a> in U.S. history. Home values actually appreciated in three of them. It is true that they sank by almost 20% during the last recession, but as we\u2019ve identified above, 2008 presented different circumstances. In the four previous recessions, home values depreciated only once (by less than 2%). In the other three, residential real estate values increased by 3.5%, 6.1%, and 6.6% (see below):<a href=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/03\/17165502\/20200318-MEM-Eng-2.jpg?ssl=1\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-41961\" src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/03\/17165502\/20200318-MEM-Eng-2.jpg?resize=650%2C366&#038;ssl=1\" alt=\"Three Reasons Why This Is Not a Housing Crisis | Simplifying The Market\" width=\"650\" height=\"366\" \/><\/a><\/p>\n<h4><strong>3. We Can Be Confident About What We Know <\/strong><\/h4>\n<p>Concerns about the global impact COVID-19 will have on the economy are real. And they\u2019re scary, as the health and wellness of our friends, families, and loved ones are high on everyone\u2019s emotional radar.<\/p>\n<p>According to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-17\/economists-rush-to-quantify-coming-slump-as-trump-invokes-r-word\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>Bloomberg<\/em><\/a>,<\/p>\n<blockquote>\n<p><em>\u201cSeveral economists made clear that the extent of the economic wreckage will depend on factors such as how long the virus lasts, whether governments will loosen fiscal policy enough and can markets avoid freezing up.\u201d<\/em><\/p>\n<\/blockquote>\n<p>That said, we can be confident that, while we don\u2019t know the exact impact the virus will have on the housing market, we do know that <strong>housing isn\u2019t the driver.<\/strong><\/p>\n<p>The reasons we move \u2013 marriage, children, job changes, retirement, etc. \u2013 are steadfast parts of life. As noted in a recent piece in the <a href=\"https:\/\/www.nytimes.com\/2020\/03\/13\/business\/buying-a-home-coronavirus.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>New York Times<\/em><\/a><em>, \u201cEveryone needs someplace to live.\u201d <\/em>That won\u2019t change.<\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>Concerns about a recession are real, but housing isn\u2019t the driver. If you have questions about what it means for your family\u2019s homebuying or selling plans, let\u2019s connect to discuss your needs.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In times of uncertainty, one of the best things we can do to ease our fears is to educate ourselves with research, facts, and data. Digging into past experiences by reviewing historical trends and understanding the peaks and valleys of what\u2019s come before us is one of the many ways we can confidently evaluate any [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2880,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-2879","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Three Reasons Why This Is Not a Housing Crisis&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/three-reasons-why-this-is-not-a-housing-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Three Reasons Why This Is Not a Housing Crisis&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"In times of uncertainty, one of the best things we can do to ease our fears is to educate ourselves with research, facts, and data. 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