Episode 36: Are We Heading For A Crash? with Kyle Seagraves
Is the housing market going to crash like it did in 2008? This conversation with Kyle Seagraves discusses the similarities and differences between the 2008 housing market and the current housing market to help make smart decisions. Historically, home value increases around 4% per year; recent appreciation has been closer to 18–20%, similar to the run-up before the 2008 crash, which understandably makes people wary. The key difference is that in 2006-ish, a lot of bad loans and predatory lending practices were in play, and a lot of safeguards have been put in place since then. Waiting for prices to drop isn't necessarily worth it, since current appreciation is based on supply and demand - and historically, even buying at the height before a drop only took 3–6 years to break even. Education and planning are the best bet: make decisions for the long haul, and stick with them.
Key Takeaways
Recent home price appreciation resembling the pre-2008 run-up doesn't necessarily mean a crash is coming.
Lending safeguards put in place after 2008 changed the underlying risk in the market significantly.
Historically, even buying at a market peak before a downturn has taken only 3–6 years to break even.
Long-haul planning and education are more useful than trying to time the housing market.
Guest Bio:
Kyle Seagraves is a Certified Mortgage Advisor, Licensed Loan Originator, and full-time home loan educator. He is the founder of Win The House You Love, a YouTube channel with over 100,000 subscribers dedicated to helping people understand the home buying process.
Connect with Kyle:
Purchase Price Calculator: https://www.winthehouseyoulove.com/max-purchase-price-calculator
LoanClarity Advisor: https://www.winthehouseyoulove.com/advisor
On YouTube: https://www.youtube.com/c/WinTheHouseYouLove
Online: https://www.winthehouseyoulove.com/
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DISCLAIMER: This Podcast may receive compensation for promoting or recommending products or services through affiliate links. We only recommend products and services that we believe are of value to our listeners. The content provided in this podcast is for informational purposes only and does not constitute professional financial, accounting, or legal advice. Listeners are advised to consult with qualified professionals before making any financial decisions. The Freelance CFO is not responsible for any actions taken based on the information provided.
Music credit: Neon Fairies by Wolves
Note: This episode is from our previous podcast, Confident Money.
