This seems to be a HOT question these days. ⁠ ⁠

Last Monday the National Bureau of Economic Research announced the US economy is officially in a recession. The Coronavirus pandemic is the leading factor of this recession, as the entire country was ordered to shut down. ⁠ ⁠ Some are questioning if we will see a housing crash like we did in 2008.

Here are 4 differences from what we experienced in 2008:⁠ ⁠

1. Families have far more equity in their homes.⁠ ⁠

2. There is a shortage of inventory, not a surplus.⁠ ⁠

3. Irresponsible lending is a thing of the past. ⁠ ⁠

4. Home values are steady and appreciation is not out of control.⁠ ⁠

So even though we are in a recession, the housing market is far more stable to weather the storm then in 2008. ⁠ ⁠ If you want to discuss what your options are in this market, reach out to me so we can customize a strategy that moves you closer to your real estate goals. ⁠