Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to consider the long-term benefits of homeownership when deciding. Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’ll Continue Reading
Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would rebound quickly. As the 2022 CEO Outlook from KPMG says: “Global CEOs see a ‘mild and Continue Reading
The Infographic "What Would a Recession Mean for the Housing Market?" above demonstrates that in most of the recent recessions, home prices have appreciated and mortgage rates have declined in the last six recessions. Key Takeaways If you’re wondering what a potential recession could mean for the housing market, here’s what history tells us. In four Continue Reading
A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession. If true, an economic slowdown does not mean homes will lose value. The National Bureau of Economic Research (NBER) defines a recession this way: “A recession is a Continue Reading
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