Recessions do not always lead to housing cris. So, if you’re waiting for the next recession to bring you down lower housing prices, it’s important you look at it historically to see what recessions has done to housing prices. We remember in 2008, home prices did drop by 20% due to the financial crisis. But if you look at the three prior recessions, for example, in 2001, the prices actually went up by 6%. In 1990, the prices did come down by 2%, but in 1981, prices went up by 6%. So don’t count on the next recession to bring down home prices.
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
