With the rapid shift that’s happened in the housing market over the past year, some people are concerned that we’re destined for a repeat of the crash we saw in 2008.
Here’s a look at why there won’t be a wave of foreclosures flooding the market.

❇️ Not as Many Homeowners Are in Trouble
After the last housing crash, over nine million households lost their homes due to a foreclosure or short sale. This was, in large part, because of more relaxed lending standards where people could take out mortgages they ultimately couldn’t afford.
Today, revised lending standards have led to more qualified buyers. As a result, there are fewer homeowners who are behind on their mortgages.
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❇️ There Have Been Fewer Foreclosures over the Last Two Years
During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The program gave homeowners facing difficulties extra time to get their finances in order and, in many cases, work out a plan with their lender.
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And most importantly, the number of foreclosures we’re seeing now is still far below the number we saw during the market crash.
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❇️ Most Homeowners Have More Than Enough Equity To Sell Their Homes
Due to rapidly rising home prices over the last two years, the average homeowner has gained record amounts of equity in their home.
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If you have questions, contact me today. Please note: I'm old 👵🏾 and might not see your DM for weeks, so if you want a faster response, you can always email me:
📧 leah@leahguerrahomes.com