Experts Say Cooling US Housing Market Isn’t in Same Neighborhood as 2008 Price Plunge
It’s one of those moments that lead many Americans to grit their teeth whenever it’s mentioned: the 2008 housing market crash.
Few events in recent decades have instilled homeowners with more dread than the notorious housing bubble burst that year.
A combination of cavalier lending policies and high market inventory stemming from the subprime mortgage blowback preceded a sudden drop in demand. Thus, an economic sinkhole was born.
Thousands of owners saw their home values plummet. Following the historic market collapse was the worst economic downturn the United States has endured since the Great Depression in the 1930s.
Presently, comparisons between a cooling trend in the current U.S. housing market and the conditions leading up to the 2008 collapse have triggered red-flag warnings from some economists….