Homebuyers Shouldn’t Worry About 2008 All Over Again
Last week, realtor.com released a survey of active home shoppers (those who plan to purchase their next home in 1 year or less). The survey asked their opinion on an impending recession and its possible impact on the housing market.
Two major takeaways from the survey:
42% believe a recession will occur this year or next (another 16% said 2021) 59% believe the housing market would fare the same or worse than it did in 2008 Why all the talk about a recession recently? Over the last year, four separate surveys have been taken asking when we can expect the next recession to occur:
The Pulsenomics Survey of Market Analysts The Wall Street Journal Survey of Economists The Duke University Survey of American CFOs The National Association of Business Economics 70% of all respondents to the four surveys believe that a recession will occur in 2019 or 2020 with an additional 18% saying 2021.
However, we must realize that a recession does not mean we will experience another housing crash. Acco..