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.
What is your home worth? click here.
Homes for sale in Carmel Valley click here.
Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
