Interesting post by Charlie, scrolled through his timeline a bit and he seems to have a lot of good content. RE people, do we think this is systemic a la 2008, or is it more so just a correction? Looking forward to some discussion, thanks!
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There was an old thread on this sometime last year if I am not mistaken. It had some great insights.
I do think we will experience a market correction, but nowhere near the financial meltdown of 2008. The banks aren't loaning money like they were before the last crash. From what I have heard and read before the recession the motto was "If you have a pulse we will approve you for a home loan" which is not happening today.
Consensus seems to be that the correction will come in 2019. I tend to agree with that.
I think part of the reason the home builders profits are down are from the shift from home ownership to wanting to live downtown, apartment living, mixed use etc.
True, the key component of '08 was the easy lending, and it doesn't seem like the subprime nonsense will happen again for a long time (subprime auto may be a different story). In regards to your 2019 comment, are you referring to the housing market specifically, or the market as a whole?
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