Dennis Lynch’s son Marshall Lynch had better know how to handle real-estate brokers. He is about to get fired if he keeps using “bubble.” He should change his words to “market correction” instead. The housing market has corrected its prices after the bubble burst in 2007. Real-estate broker Dennis Lynch says he knows a lot about the housing market in the New Jersey area. In 2006, the average price of homes in Rumson NJ was $230,000, but now it’s down to $130,000. So far this year, home values have gone up compared to last year. Home prices are predicted to increase further this year as well. But when the next downturn comes, and everyone wants out, home prices will go back down again. There are some similitudes between the present situation in the housing market and the state of the market before the housing crisis of 2007.
Like then, there are indicators of a real estate bubble developing. People should carefully observe market signs and consider the possibility of a real estate bubble bursting and leading to a crash. Dennis and Marshall Lynch are getting more and more questions about whether to purchase stocks now. These people feel an urgent need to act right away before prices fall further.
Here at Dennis and Marshall Lynch, we are a father and son team located in Rumson, New Jersey. We have over 10 years of experience and over 1,000 transactions in the real estate industry. Learn about all the benefits we can offer when working with us!! https://t.co/n8J4NeOUNz
— Dennis and Marshall Lynch: New Jersey Real Estate (@DennisandMarsh) May 26, 2022
However, this is not necessarily true because of what he sees as the most likely causes of a market crash. The opposite may happen—he believes the market could continue to rise. In the United States, there are various reasons why the price of homes is soaring. Interest rates have gone up as well as the cost of mortgage payments. Housing prices are growing at an alarming rate. And, as many Americans struggle to find a job or afford to buy, renting instead of buying makes sense.