With over 90% of Americans now under a shelter-in-place order, many experts are warning that the American economy is heading toward a recession, if it’s not in one already. What does that mean to the residential real estate market? COVID-19 hit the pause button on the American economy in the middle of March. Goldman Sachs, JP Morgan, and Morgan Stanley are all calling for a deep dive in the economy in the second quarter of this year. Does that mean we’re headed for another housing crash? Many fear a recession will mean a repeat of the housing crash that occurred during the Great Recession of 2006-2008. The past, however, shows us that most recessions do not adversely impact home values. With the exception of two recessions, the Great Recession from 2007-2009, & the Gulf War recession from 1990-1991, no other recessions have impacted the U.S. housing market, according to Freddie Mac Home Price Index data collected from 1975 to 2018. Last time housing led the recession…This time it’s poised to bring us out. This is the Recession for leisure, hospitality, trade and transportation in that this recession will feel as bad as the Great Recession did to housing. This time, however, housing will be the sector that leads the economic recovery. #realestate #housingmarket #information #KnowledgeBroker #Intero #SellHome #BuyHome https://www.instagram.com/p/B-7lgYBj4QI/?igshid=h96wygu2ejml