Should I Buy a House Now or Wait For a Recession?
AuthorAmanda Dodge. Date:
More than half of Americans (56%) believe the United States is in a recession, despite evidence to the contrary. Even though the economy is growing, many people feel pinched by high costs of living and inflation. The 2024 Presidential Election is also making people nervous, with some people believing the outcome will determine economic futures. The potential for a recession is also affecting the home-buying decisions of Americans. There are beliefs that a recession can cause the housing bubble to burst, causing prices to plummet. They believe it would also increase inventory and cause interest rates to drop, making loans cheaper. However, these ideas aren’t always backed by economic realities. Even if the United States falls into a recession in 2024, the housing market might not react how people want. There could be serious implications for who can afford to buy and who is left in an uncomfortable housing situation. … Continued
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