Thursday, April 2, 2020 / by Hardy Real Estate Group
Should You Buy a Home if a Recession Hits?
Should You Buy a Home if a Recession Hits?
Between the coronavirus pandemic, the shutdown of nonessential businesses and a plummeting stock market, buyers and sellers wonder: Are we headed for a recession? Anyone who had a goal of buying in 2020 would probably like to know if now is a good time to buy before committing to a major, long-term purchase. Similarly, anyone planning to sell their home in 2020 would like to know; should they sell now or weather the storm. Then the question is, if they wait, will their home value be affected?
To set the stage for the below information, it is important to note that a Recession is not necessarily a positive for any industry. Yes, some can weather a recession better than others, such as essential goods and services as opposed to businesses that are reliant on consumer discretionary income. With that said, real estate tends to fall into the latter; people will always need to buy, sell, their homes. Whether an economic recession or ; ...
Between the coronavirus pandemic, the shutdown of nonessential businesses and a plummeting stock market, buyers and sellers wonder: Are we headed for a recession? Anyone who had a goal of buying in 2020 would probably like to know if now is a good time to buy before committing to a major, long-term purchase. Similarly, anyone planning to sell their home in 2020 would like to know; should they sell now or weather the storm. Then the question is, if they wait, will their home value be affected?
To set the stage for the below information, it is important to note that a Recession is not necessarily a positive for any industry. Yes, some can weather a recession better than others, such as essential goods and services as opposed to businesses that are reliant on consumer discretionary income. With that said, real estate tends to fall into the latter; people will always need to buy, sell, their homes. Whether an economic recession or ; ...
