I want you to understand that recession does not mean housing crisis. So if you are a home buyer and you’re looking to wait for a home prices to come down because of a recession, it’s important to look at historically what recession has done to the housing. For example, in 2008, which we remember, it was a financial crisis and home prices did drop by 20%. But if you look at the three prior recessions and I wrote down some numbers so I won’t forget, in 2001, during that recession, the home prices actually went up by 6%.1990 came down 2%.1981, the home prices went up by 6%. So if you are waiting for a recession to bring down prices, you may lose your chance of buying a house in this today’s perfect buying environment, manage the low interest rate. So don’t count on recession for home prices to come down.
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379