There is a big difference between in today’s market and what we were dealing in the mid 2000’s and Mark Stark elaborates on this topic. There is so many differences in todays market than in the mid 2000’s the market at that time created a powerful downturn and probably the number one reason is because of free-flowing capital. When you can sign your name to get a loan and all you needed was good credit and you don’t have to qualify. It changes the dynamic of any real estate market. Another example, people were looking to buy new homes, they would literally have 200-300 people in line to buy a new home and with six of them out of rest were actually moving into the home to live. Everyone else wanted to flip the home and their strategy was to buy it and wait until it goes up a $100,000 and then sell it again. Stay tune to hear more!
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