With everything going on, many of you may be wondering whether we are heading towards another Great Recession as we experienced in 2008. While indeed a recession seems very imminent, things are a bit different today compared to the 2008 crash in regards to the housing market. While many people are speculating what will happen to the housing market, I did some research to compare what is happening today as to what happened in 2008.
For starters, the housing inventory available today in 2020 is much different compared to the inventory that was available in 2008. As of today, in Los Angeles, we are sitting at 1-3 months’ supply of inventory available for home buyers. During the 2008 recession, we had a 13 months’ supply. As you can tell, things are much different today as opposed to the 2008 housing market crash in terms of inventory. To learn more about key differences in today’s market compared to the 2008 crash, watch this week’s full episode of #KeriTV.
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