The simple answer is yes of course there is. There have always been buildups, crashes and recoveries. That is just the way things work. The real questions are when is the next big crash coming, what you do about it and how do you prepare for it.
I know people are freaking out right now, but staying informed and objective at this point will help keep your sanity.
As I am writing this, an email thread from my Lifeonaire Titanium group started circling about just this exact same topic. Some of them are taking advantage of the current market conditions because they have a great marketing machine running that is supplying them with good deals and because of the lack of inventory, they are making higher profits than they would have in a normal market. Others are starting to panic and preparing for dooms day.
Here is my quick response to them:
Everything we are seeing right now is equivalent to 2003-2005 before the big crash in 2008. While there are similarities to that time frame, there are also huge differences. As Steve stated, there are no NINJA loans right now. But they may be coming back. Lack of inventory was not the driving force back in 2003-2005. NINJA loans and other no qualifying loans were the main driving force.
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