Real Estate July 23, 2022

Real Estate Market Check-In with Dave Ramsey

There is a lot of uncertainty circulating the housing market this year. Whether you’re trying to buy, sell, build, or invest, it can be difficult to strategize and understand how the market can work in your favor. The biggest factors contributing to the rising panic right now are interest rates, an impending crash, and the increasing price of houses.

Dave Ramsey is a great resource to utilize when trying to navigate these questions. His nearly objective perspective is explained in his article, “Is the Housing Market Going to Crash?” It gives expert insight on the state of the current market and how we can interpret it in the future.

He explains that housing prices have been steadily increasing since 2008 and many potential buyers are wondering if and when they will go down. While we cannot be certain that prices will ever experience a drastic drop, we can know that they will even out over the next few years. Even though it appears that interest rates are exceptionally high, Ramsey points out that our country has seen much worse in previous decades and that cannot be an excuse to hold off on buying.

The key factor in today’s market is that the number of people wanting to purchase homes is far greater than the number of homes available, resulting in higher prices than we’ve seen in the last few years. As Ramsey puts it, this is a simple supply and demand concept that should not induce fear, but rather explains the increase in home value.

What we can learn from this is that we should not let the fluctuation of the market create a hesitation to investing in real estate. Ramsey is pointing out that this pessimistic mentality about the market is not an accurate reflection of the current situation. By gaining true perspective, we can learn to understand the patterns of real estate.

Ramsey, D., 2022. Real Estate Reality Check | RamseySolutions.com. [online] Ramsey Solutions. Available at: <https://www.ramseysolutions.com/real-estate/reality-of-housing-market>