With Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
Rising and sky-high rents, persistently low interest rates and easier credit are making the housing market very attractive, especially to first-time buyers, but finding a home you love, within budget also appears to be much harder with many feeling like housing is again in a bubble with prices up sharply over the past few years across the globe and more so in hot and desirable markets for young millennials.
So are we in a housing bubble? Or are current house prices justified given low rates and supply-demand constraints? Terry makes the case that housing now is not the nutty, crazy environment it was before the crash. Median prices are up 8% per year, on a compounded basis, nowhere near the run-up in home prices in 2005, before the Great Recession. This Spring, buyers feel like they are racing to see houses and competing with multiple buyers, in a seller’s market. But Terry tells you why now is still a good time to buy a home.