Tight credits.
Michael Gifford, 6-15-2023, AZ Big Media author, "5 reasons we won’t see a housing market crash anytime soon," AZ Big Media, https://azbigmedia.com/real-estate/5-reasons-we-wont-see-a-housing-market-crash-soon/ ---ML
2. Credit availability is exceptionally tight, and regulators removed faulty financial products
The housing market is expected to stay strong, mainly due to the current limited credit availability. This is a significant contrast to the situation in 2008, where obtaining loans was considerably more accessible for borrowers. During that time, several unsafe mortgage products enabled individuals with low credit scores to qualify for loans, but those have since been eliminated from the market. The 30-year fixed mortgage is the primary product, providing a more stable option for borrowers and lenders.