The primary difference is the loose lending habits of 2008 compared to today's controlled financing options. Secondary, the runaway building that created huge inventory issues to today's housing shortage. There is simply no comparison. Have a look at today's report for more details.
The first myth is a pending housing bubble. Solid reasons for calling this a "myth" are in the paragraphs immediately above. The second myth is that a recession will cause another crash. This is a common misconception based on misinformation. A recession is simply a fall in GDP for two consecutive quarters.
Historically, the last 5 recessions caused home prices to INCREASE. The third myth is that housing will enter an affordability crisis. In historical terms, homes are cheaper than before and interest rates would need to rise to over 6% before buying a home would be less affordable!
Experts seem to agree; a housing crash will not repeat any time soon. I am going to point you to today's report to read their comments.
New home sales in reported August were up 12.7% from last year! The report shows builders are ramping up construction to fill the demand. But, a housing shortage of homes still exists. This is a great time to sell if it is time to move on and a great time to buy before higher prices and/or interest rates impact your buying power.