3 Mistakes Homeowners Should Not Repeat From the Last Housing Bubble
Home values have been rising rapidly throughout the pandemic. This has occurred as mortgage rates have hit record lows and the supply of properties has been constrained because many people haven't been listing their houses while COVID-19 has been surging. Although mortgage rates have gone up considerably this year, this hasn't done much to cool the market, which has led some to believe that there's a housing bubble.
Whether the market is indeed in a bubble or not, it's undeniable that home prices are high right now and that many homeowners have substantial equity in their current properties. When these conditions were present in the recent past leading up to the 2008 housing market implosion, many people made some big financial mistakes. Homeowners should aim to avoid these errors this time around. There are three big mistakes in particular to steer clear of. Here's what they are.
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Source Fool.com
