Housing Market: Flatter Times Ahead, Not a Crash

0:00Folks are buzzing about a possible housing crash, with mortgage rates climbing back to the 6.3 to 6.5% range after, dipping below 6% in February. Inflation spike 2, from 2.4% to 3.3% in March, per the Bureau of Labor Statistics. Bigger pockets chief investment officer Dave Meyer says, the odds of a 2008-style meltdown are super low, pointing out we've only had one. Local housing crash in the last 100 years. Tensions from the war in Iran are piling on, messing with markets and feeding those inflation numbers. But Meyer's stress is today set up, lacks the wild subprime loans and over leverage speculation that tank things back then. A lot of this fear stems from 2008 trauma, that recency bias hits hard, and Meyer gets it since he lived through it. People expect a boom or bust, but the data shows neither extreme is coming. Instead, expect a flatter market with prices softening modestly over the next couple years,

1:00closer to the historical norm of about 3.5%. Percent annual appreciation, no free fall, just slower times. Buyers might snack some leverage in talks, sellers need real comps, and investors should eye cash flow over quick flips. Affordability bites with those rates in prices, but it's a steady market, not a broken one, heading off a cliff. In Durham News today, powered by AI bringing you what matters.