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Cyclicality in the Housing Market

Terry Story

With Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL

While winter weather has clipped housing starts in the Mid-West and other cold parts of the U.S., could the coming months lead to a spring-back in starts, literally, as the ground thaws? Also, with home prices up nicely over the past few years, a “less than average” supply of affordable new and existing homes for sale and the conversion of saleable homes into rental properties, potential buyers stayed on the sidelines and continued as renters… to the point where it’s now almost 20% more expensive to rent than to buy… a strong reversal from 2006 when it was 76% more expensive to own a home than to rent! So, this statistic alone underlines the cyclical nature of the housing market – with pendulum swings, and booms and busts. So what can we expect next – with homes for sale and rentals?

Also – do you have to wait seven years after bankruptcy to buy again? Or could you buy again sooner as lending standards ease up? Tune in to learn more about home-purchase options after a bankruptcy.