As home sales continue to drop and recession worries won’t go away, many see parallels with 2006 when the housing crash and Great Recession were just around the corner.
However, experts are quick to point out that a fundamental difference is that there are plenty of would-be buyers; there are just not enough houses on the market. This will keep home prices from completely catering. In addition, high mortgage rates are keeping many from putting their homes on the market.
Finally, mortgages are much safer these days as the worst of the subprime mortgages are now gone.
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