Are we going to have another housing crash?

 Are we going to have another housing crash like in 2008?

 With all that is going on with the Covid virus, it's a bit of a cautious time in the real estate industry while things are shaking out. During the last real estate housing crash houses stopped selling, prices dropped (although Corvallis missed having a tremendous drop in home values for the most part - I was living in Hawaii at the time and the state really felt it as prices had nearly tripled in the 6-7 years leading up to 2008) and for areas where prices dropped dramatically many took up to 5-7 years to recover to previous levels.

 This time around we won't know until a bit of time passes, however there are many underlying fundamentals that can indicate that this could be potentially just a bump in the road in comparison to what occurred in 2008, assuming there is a reasonably swift recovery from today's virus issues. Check out the following video...

 

If you are considering a home sale or purchase, let's talk.  Right now homes are still selling quite well in Corvallis and the area and I'll be keeping up to date on the Corvallis and Albany area market.