Quoted in the Staten Island Advance: Why Today’s Housing Market Is Not 2008 All Over Again

I’m excited to share that I was  featured in the Staten Island Advance, discussing how rising mortgage rates are shaping our local housing market. It’s been a whirlwind year for real estate, and there’s a lot of noise out there—so I’m grateful for the chance to add some clarity and perspective!

In the article, I addressed a question on many people’s minds: are we heading for another housing crash like 2008? My answer is a confident no. Back in 2006 and 2007, the market was flooded with risky adjustable-rate mortgages (ARMs) that required little documentation. Many buyers faced skyrocketing rates—some as high as 9% or even 13%—and were ultimately forced to walk away from their homes. That’s a big part of what triggered the crash.

Today’s landscape is very different. Fewer than 10% of homeowners now have ARMs, and a remarkable 40% of Americans own their homes outright. That’s a solid foundation—one that makes a widespread crash highly unlikely. While higher mortgage rates have changed the pace of the market, there’s no need to panic. Most homeowners are on stable ground, and buyers are making more informed decisions than ever before.

As always, my goal is to keep you informed and empowered, whether you’re thinking about buying, selling, or just watching the market. If you’d like to read the full article and see more expert insights, check it out here:

Read the full Staten Island Advance article

Questions about your own real estate journey? Reach out anytime—I’m here to help!