With Vero Beach home prices continuing to rise, some fear that another housing bubble like we experienced in 2006 to 2008 may be on the horizon. We're seeing some of the same signs again like bidding wars, offers above asking price, closings before houses even hit the market. Signs that are once again becoming the norm in the real estate industry. But some economists say, any potential housing bubble this time around will be different than the one we all went through before.
Because interest rates are still hovering near all time record lows, it's a good time to get into the market before those rates start to rise as everyone is forecasting them to do. But as Vero Beach home prices keep rising, and then when rates start to rise, home buyers will have to settle for a lot less house for the same monthly payment later versus what they can get now, IF they have good enough credit to qualify.We have more news almost daily in our Vero Beach Real Estate News section of articles under Vero Beach Real Estate Categories to your right.
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