Recession Fears Are Growing—Here’s What It Means for Real Estate
I’m not saying we’re entering one… But here’s what typically happens to housing during a recession. When people hear "recession," they usually picture the 2008 housing collapse. But that crisis was caused by a perfect storm of bad loans, wild speculation, and financial system problems that simply don't exist today. Let's look at what typically happens during economic downturns: Home prices usually continue whatever trend they were already on. That’s why in 4 of the last 6 U.S. recessions home prices went up. Mortgage rates almost always drop during recessions. In fact, rates fell during all six of the last U.S. recessions. This doesn’t mean we’ll see a return to 3% rates, but even small decreases can significantly improve affordability for buyers. Plus, homeowners today are sitting on serious equity and low rates, so there’s no pressure to panic-sell. Want the data for what’s happening right now in SW Broward County? This is Enrico Roselli with the Roselli Team, just DM or message me 954-895-0285 to get the latest info on home prices or referrals to handymen plumbers or any other type of help for your home. Talk soon! Enrico Roselli - United Realty Group - 954-895-0285 "Lets Talk About It!" https://linktr.ee/RoselliRealEstate
