Similar to how political experts claim that this election cycle will be the most important in a generation, this year could be the most important year in recent memory in terms of home loans and the residential real estate industry in general. (And if you think I have a trade in Florida I’d like to sell you.) For a variety of reasons, I have unilaterally decided to be brief and concise this year. So, here are the three perennial predictions for 2019.

1. Live work.

At first glance, the phrase “Gig Work” seems like the antithesis of solid mortgage underwriting standards, but it’s actually quite refreshing. And that means that since the aftermath of the 2008 crash couldn’t be further from the subconscious, there may be a subprime “carry-over” in current underwriting standards. But these aren’t your dad’s Oldsmobile underwriting standards. In other words, today’s lenders are more than willing to count part-time and intermittent work as bonus income, even though it had been disregarded after 2008.

According to Saideh Brown, president emeritus of the United Nations National Council of Women, “Mortgage lenders are starting to look at temp work for mortgage approvals. This is only going to be more prevalent in today’s job market. Banks they are looking at all sources of income and live work is fast becoming a primary source of income for millennials and must be taken into account in gaining emotional acceptance of homeownership from this generational bloc. “

Therefore, the final result for 2019 in Prediction 1, expect creative but reasonable underwriting standards to become part of normal mortgage underwriting procedures.

2. Saved by Millennials (again). What?

At second glance, who doesn’t get bored with self-absorbed Millennials? Me, for my part, but despite that demeaning tongue and cheek response to the taste of the generation of the month, which will no doubt be replaced by the next offspring of Eternal Desperate, they at least have a good impression. And here is the angle; While many are concerned if real estate is a safe bet today, then historically it is, and therefore one’s outlook must be long-term, despite naysayers about non-real estate appreciation for 2019.

According to Dan Green, CEO of real estate site Growella, “Rising mortgage rates are not slowing millennials’ desire to own a home. Pending demand will continue to develop throughout 2019, driving up value. of homes at all price points. In all markets, housing is defined by supply and demand. And as long as supply and demand remain within tolerable ranges, housing will continue to be a good investment. “

So the bottom line for 2019 in Prediction 2, buy now and calm down forever, as interest rates are still good.

3. Decrease in the price of housing.

The real estate sector has always been local. Hence the adage “Location, location, location.” With that in mind, there is nothing to catastrophically worry about in terms of purchasing a home as your primary residence. If you are an investor, choose your fights carefully, as not all markets will perform as anticipated, no matter how smart you may think you are. With that in mind (again), there will be a slight degree of variability, as it sounds, as it would be incredibly stupid not to expect some degree of variability. Even in the Garden of Eve, the market value probably fell in price after Adam bit into the apple.

According to Ruben Gonzales, chief economist at Keller Williams, “Looking ahead to 2019, we anticipate that home sales will fall about 2%. We expect it to be another slightly slower year as buyers continue to struggle with higher mortgage rates after grappling with with several years of rapid price growth. “

So the bottom line for 2019 in Prediction 3, proceed with caution as an investor, but as a primary home buyer, nothing should reasonably warn you of a purchase decision, as home appreciation should be an afterthought, and especially depending on your retention period.