Are we headed for a crash? Let’s discuss this crucial question.
Recently, a lot of people have been asking us whether the market is going to crash.
In our local Phoenix area, the economy and the new construction market are booming. This is very similar to what we saw before the last market crash, but this doesn’t necessarily mean history will repeat itself.
During the last crash, a lot of investors were entering our market with the intention of riding out potential appreciation. Today, though, the prospect of appreciation isn’t the primary driving force behind most home purchases. This fact alone highlights the stark contrast between our market now and what we saw years ago.
The bottom line is this: We may experience a correction within the next year or two, but today’s market conditions are a far cry from what was the case during the last crash.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.