Are we heading for another 2008 housing bubble

Q: Do you see housing market bubble burst coming or another 2008 crash?

A: I don’t see a 2008 like crash coming anytime soon.  In fact, the 2008 crash was quite predictable based on what housing stats were showing at the time (which is why I’m such a junkie at analyzing housing stats, I learned my lesson from not paying close enough attention to housing stats in 2005-2007). When you examine the last housing bubble, you can clearly see major issues about to happen in a housing market when you look at the data.  I spell out in the video what would need to happen if we were to have another 2008-like crash in housing. That doesn’t mean we may not see a dip in prices in our market, but I don’t forsee that happening anytime soon unless interest rates jump up significantly.  I believe Boise is going to have another 2-3 strong years of growth.  I hope that doesn’t mean prices will continue to rise but they will unless there is a jump in interest rates or more homes are listed for sale then what we have seen in 2016.  

Mike Turner is Boise Idaho Realtor, who owns Front Street Brokers - The author of books “Value Driven Approach To Sell Real Estate” and “Agent Entrepreneurs.” Mike is the host of the weekly radio show and podcast.

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