South Florida Housing Bubble Alert!
Attention buyers that continue searching for excuses not to buy now. Or sellers waiting for the right time to move. Wake up and stop making excuses! This is NOT a housing bubble and the real estate market is NOT going to collapse! If you continue to wait, you may never get an opportunity!
Did you know that home equity is the number 1 retirement plan for Americans? This is not the case if you are renting or continue to avoid the ultimate truth.
Reasons why we are not in a housing bubble
In addition to having learned from the last housing crisis, clear economic factors help us understand why we are not in a bubble:
- availability of clear information and transparency to the consumer
- there’s no artificial demand but clear lack of inventory
- renting is more expensive than buying in most cases
- there are mortgage controls in place like never before
- buyers today are end users and not speculators
- historically low interest rates are driving up demand
- even home owners that may be late with mortgage payments have equity
Because of these factors, you may never again, in your lifetime, find homes as affordable as they are today. Don’t take my word for it – do the math. Your REALTOR and your mortgage broker should be your allies at this point. Compare buying today (possibly at an inflated price because of bidding wars) with waiting a year or two at higher interest rates with projected appreciation. Numbers will not lie.
Don’t assume it’s an automatic bubble because prices are increasing. Home pricing is not being fueled by speculation but by real needs from real end users. I challenge you to do the math and contact us to finally pull the home buying trigger.