The housing market has seen a rapid shift, prompting concerns of a 2008-style crash. However, factors like reduced foreclosures and increased homeowner equity distinguish today’s situation. Despite a rise in foreclosures amid the pandemic, they remain below pre-pandemic levels. Most homeowners have ample equity to avoid foreclosure. Context is crucial amid reports of increasing foreclosures.
One of the many reasons to buy a home is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac:
