Source: AS —
Potential homebuyers—and most people—shudder at the phrase “recession.” The 2008 recession devastated the real estate business. Sales fell, houses were foreclosed, and the market collapsed.
If you’re smart, purchasing a property during a recession may save you money! The 2008 recession and housing market crisis highlighted how much property values affect the economy.
In addition, If you’re considering purchasing a property, you may have a different worry than other consumers: how long each upswing and recession will endure and how severe it will become. Is buying during a recession risky?
Even specialists have failed to forecast home market crashes. Prices rose sharply in 2020 and 2021, but the Fed may hike interest rates, which might lower house prices.
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The housing market is NOT crashing.
This is a very uninformed opinion and article
The 2008 crash was due to the adjustment of interest rates on subprime mortgages. The decline in home prices now is due to high interest rates reducing the numberof buyers for the limited number of houses for sale. Homeowners are reducing their prices to attract buyers
The house price won’t go lower than 20% on 2023 unless the stock market will go higher than 20% the interés rate could go up another .5 point but the mortgage rate won’t go over 8%