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Podcast: The Tom Toole Sales Group Podcast
Episode: The 2023 housing market is nothing like 2008 - Tom's Take 305
Description: The 2023 housing market is nothing like 2008 and I've got a the stats to prove it.
We have heard over and over that the upcoming market, is going to be just like 2008.
15 years ago, there were 8 million job cuts. Right now, there's virtually no job cuts.
There were 138 million total jobs in 2008. There's 158 million in 2023.
Subprime loans were prevalent in 2008. They virtually are nonexistent in 2023.
There's not a flood of new homes. A lot of land is already built on.
Mortgage delinquency rate was 10.1% in 2008. In 2023, we're seeing a 3.6% rate.
4.6% of all the properties in 2008 were in foreclosure. Right now, we're...