The COVID-19 crisis is causing many challenges across the world than the ones we faced in 2008. Back then we had a financial crisis; today we face a health crisis. Here are 5 reasons why today is different than 2008:

1. Home price appreciation has been more stable.

2. Mortgage credit has been issued more cautiously.

3. There were too many homes on the market in 2008.

4. Home equity is used with greater caution now.

5. Over 50% of homes today have at least 50% equity.

What we know now is that housing is in a much stronger position today than it was in 2008. It is no longer the center of the economic slowdown. Rather, it could be what helps pulls us out of the dilemma. DM me if you have questions about how everything happening today impacts your plans in the housing market this year.

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