Fifteen years ago, unemployment was over 10%. Today, it's just over 3%. Fifteen years ago, subprime loans, or people who shouldn’t be getting mortgages, were getting lots of mortgages. Today, there's virtually none of those. Fifteen years ago, 10% of homeowners were delinquent on their mortgages. Today, nearly 2% are. And fifteen years ago, about 5% of homes were in foreclosure whereas today just about half a percent are.

It's a very different market now than it was in 2008. The biggest issue is that we need more homes and builders are not building as many as they used to. Now, the number of homes completed does not match the amount of demand needed. So what's that mean for people with homes that are already built? The price just keeps going up. 

"If I've got a great interest rate, why would I sell my house and get a higher one?” Which is why we don't have a whole lot of inventory right now. Number one, our goal is to make sure that people's net worth increases. When determining whether to wait or to purchase a house now, one must ask the question, ‘which is going to result in causing my net worth to increase the most?’ Is it by waiting or by buying a house right now? Let's say someone was to take out a mortgage for $500,000 today with a 7% interest, you say to yourself, 7% interest, that's a lot more than the 3% or 4% interest rate that I have. Well, that interest payment each month is going to be around $2900. The difference is that the interest rate payment was around 5% would be around $2100 a month. That's a $ 800-a-month difference and cash flow does matter, but I'm going to address that in just a minute. Instead, that $800 a month is around $9600 per year that the individual would pay.

However, if real estate is appreciating at 5% per year, which it is definitely doing, that individual will pay $525,000 for that house if they wait a year, which means they have a difference of over $15000 negative towards their net worth that they missed out on because they decided to wait. 

Not only that but there is no guarantee that the interest rates will be lower in a year. Although, many analysts believe that they will be.