How bad is it going to get in 2021 for the housing market and how bad is the housing crash going to be! Is the housing bubble going to POP in 2021? Find out in today's video!

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What's going on guys Austin Zaback here, and in this video we are going to be talking about the housing market, and wether or not it will crash in 2021. You can help keep the housing market from crashing by smashing the like button!

A good way to tell if the market will crash or not is to examine the Housing Market Crash of 2008. What really happened there and what were the main reasons for it crashing? Understanding previous crashes will help us understand what things will contribute to the next crash.

In 2008, the biggest reason was the Subprime Mortgage Crisis. Pretty much what happened in the early to mid-2000's is that high risk mortgages became available through lenders who funded mortgages by packaging them into pools that were then sold to investors. This caused a huge demand, and supply couldn't keep up which caused the prices to go up. Pretty much anyone could get a mortgage on a house that they would never be able to afford. Big companies shortly after had to file bankruptcy, in response, they tightened up the lending requirements that made it a lot harder for high risk borrowers to get approved. This sent the demand into a downward spiral and soon after foreclosures began to follow. Obviously, there were some other variables but for the purpose of this video we are going to move along.

In 2019, we had one of the strongest economies ever, and the FED cut interest rates as well which encouraged people to go out and buy homes. 2020 was supposed to be the biggest year ever for homeownership among millennials. Obviously, we all know what happened next. The world was struck with Covid-19 which ultimately forced the market and the world to a stand still. Fortunately, our economy and the market has taken a sort of V-shaped recovery, but possible shutdowns could cause a lot more problems.

Demand is high, supply is low, causing prices to go up, with interest rates at an all time low combined is what is causing the bubble that we're in. Some people think that it will just keep going, some think that will make it burst, and others think it will pop any minute. Ultimately, millions of Americans have not been able to pay their rent and are in forbearance, we're facing a possible mass eviction crisis, and unemployment has still not recovered fully.

A possible scenario is that the V-shaped recovery could turn into more of a W. If we go back into a lockdown by the government, that will cause the V to dip back down again forming that W. Now, there are a ton of things that effect the real estate market overall, like interest rates, consumer spending, consumer confidence, etc. Having said that, we still have millions of Americans without jobs, and a possible eviction crisis, so overall if the market is going to crash it depend on how hard this effects the market. Obviously, the government will pass another stimulus bill to help with all of this, but it will still effect the market nevertheless. It ultimately comes down to the market and Americans being able to survive this time-period with the ability to stimulate the economy enough to recover.

Thank you so much for watching the video, I hope you enjoyed, and I'll see you in the next video.

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