Here’s why I doubt we’ll see a housing market crash in 2021.
Will there be a housing crash in 2021? There are a lot of rumors floating around out there that seem to substantiate this idea, so today I’ll address these concerns. First, it’s important to remember that what’s happening in our national market doesn’t always reflect what’s happening in our local Columbia market. Second, if we compare the situation we’re in now to the last time our housing market crashed in 2008, we’re in a much better place.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse specific points at your leisure:
0:44—A quick shoutout to Jaspreet Singh for providing quality information on this topic
1:24—Why the unemployment numbers don’t affect the real estate market
2:38—How our current market differs from the one that preceded the last housing crash
4:57—The three most likely scenarios for 2021
7:46—The four factors that determine what comes next
8:30—The differences between the national economy and our local economy
9:51—Wrapping things up
If you’d like to know more about the future of our Columbia housing market or have any real estate needs I can assist you with, don’t hesitate to reach out to me. I’d love to hear from you.