A lot of people are asking me whether or not another recession is coming in the next few years. I don’t believe we’ll see a recession this decade, and today I’ll discuss my reasoning behind this claim. Here’s an outline of what I discussed, with timestamps so you can skip ahead to the part(s) that interest you most:
0:55- My background in the real estate business and the types of markets I’ve seen in my career.
1:25- A brief overview of the recession we saw last decade.
3:00- How buyers’ loans today are much different than what we saw with the last recession.
5:20- How unemployment played a factor in the previous recession and why it’s not a factor these days.
6:15- The role that rent prices are playing in market conditions today.
8:30- Why homeowners who lose their jobs these days have a leg up on buyers who lost their jobs during the previous recession.
While home prices have continued to go up, I expect to see some stabilization there in the near future and I do not expect us to see a recession in the next three or four years. If you have any questions for me in the meantime about the market or about real estate in general, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.