4 Major Housing Recovery Myths Debunked
Destination Home | Fri, Jul 26, 2013 12:56 | link
Watch video here.
With home prices continuing to rise and interest rates so low, some are asking: Are we just inflating another housing bubble? And with low inventory being a major theme for housing, is a surplus of shadow inventory about to flood the market and bring home prices to a grinding halt — or cause them to come crashing down?
With so much interest in where the housing market is going, there’s also lots of speculation — and misinformation. So to debunk some of the biggest housing myths (as he sees them), we talked to Brendon DeSimone, real estate expert, blogger for Zillow.com and author of the upcoming “Next Generation Real Estate: New Rules for Smarter Home Buying & Faster Selling.”
Check out the video to see more on how DeSimone debunks these myths:
1. The housing recovery isn’t real – we’re just inflating another bubble. DeSimone argues the renewed interest in housing is not another bubble. He sees enough demand in the pipeline to sustain the recovery based on the fundamentals of jobs and consumer confidence. Home prices are still down, far below their post-crisis heights, and DeSimone reasons that home ownership is still a cornerstone of the American Dream.