Is This Market Heading Towards A Crash Similar to 2009?

Is this '09 again? Is this a bubble? Are we going to see a total market crash soon? These are questions that I'm asked almost daily. The real estate markets of Paradise Valley, Arcadia, Scottsdale and Biltmore are in high demand with a huge inventory deficiency. We simply don't have enough homes for all the buyers looking. And its not just California buyers driving the market, we are seeing a huge influx of out of state buyers from Oregon, Illinois, New Jersey and Washington coming to Arizona. Whether people are flocking to Arizona for the weather, the politics, the taxes or personal reasons, they are coming and they are staying. Large corporations are also moving to the Valley are bringing thousands of employees with them. The number of new residences will strengthen the economy in AZ and continue to drive our market in a positive direction.

Lenders are also doing their part to make sure we don't have a market crash. In 2009, many buyers were being overly qualified for homes that they could not afford. People are over leveraged and living outside their means. One hiccup lead to a massive domino effect that was incredibly damaging to our market. Since then lenders have become extremely thorough qualifying buyers. Some might say too thorough in fact because is can be a draining process to get a home loan, but I'm grateful because these extra steps to get a hoe loan are required to keep us all safer. While interest rates are still incredibly low right now, we are also seeing a large amount of the home purchases being purchased with cash. This is also a great benefit to making sure we don't see a crash.

While I do not have a crystal ball and am in know what predicting the future, but based on the facts of what I'm seeing, this is absolutely not a 2009 Bubble Crash.