HOUSING RECESSION MEAN?
It helps to look at historical data to demonstrate that home prices don't always decrease during recessions. Home prices increased in four of the most recent six recessions, as shown in the graph below, which shows the recessions going all the way back to 1980. So, historically, when the economy slows down, it doesn’t mean home values will fall.
The majority of individuals believe that another recession will mirror what occurred during the housing crisis of 2008 (the greater of the two red bands in the graph above). However, a crash in the property market is not imminent. Today's principles are considerably different from those of 2008. So don't assume that we are going in the same direction.
Everyone is aware of what transpired in the property market in 2008. If you're intending to buy or sell a home, though, you don't need to be concerned about the word recession. Historical data shows that during most recessions, home price increases have remained steady and mortgage rates have decreased.
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