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Friday, December 9, 2022

Don’t expect home prices to crash during the next recession the way they typically do in a downturn | Business Insider

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Economic Predictions: Recessions Lead to Declining Home Prices

The Federal Reserve’s efforts to reduce inflation have not yet stabilized the economy. Within the next 12 months, experts think a recession might strike the United States. Historically, recessions have caused reductions in housing prices in the real estate market. But even if a recession occurs, the housing market is durable, according to one analyst. Inflation has caused gas prices to approach all-time highs and food prices to exceed prohibitive.

It has boosted mortgage rates and exacerbated a supply and demand mismatch in the US housing market. Even when buyer demand declines, a shortage of supply keeps prices high. Even if the United States enters a recession, it will take some time for property prices to drop significantly.

Source: https://www.businessinsider.com/housing-crash-prices-go-down-recession-not-this-time-2022-5

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