Lately, so many people are wondering if we are in for a real estate crash. You can’t turn on the television or go on the internet without hearing or reading the word recession. It seems to be the latest buzzword with economists. So many news experts are debating whether the real estate market is going to crash soon. In fact, many people are comparing this market to the one from 2008.
I’m often asked: “If we are in a recession, will the housing market crash again like in 2008?” I say no because the conditions are not exactly the same. Still, people are scared. Because of the 2008 housing bubble burst, the word recession has a stronger emotional meaning today. People remember the 2008 market and do not want a repeat because of the considerable financial housing crisis that happened as a result.
Fortunately, according to the experts, if we were officially in a recession today, it would likely be more mild and the housing market should rebound quickly unlike in 2008. Find out more as I analyze other aspects of this more positive perspective.
