Mark’s Market Update – 12/16/2022
What if home prices crash?
If you (or people you know) think home prices are going to crash – watch this video.
We’ve experienced seven recessions in the last 40 years…and the recession we’re getting ready to go into (if we’re not already in it) is tied to INFLATION. Inflation is a much different trigger for a recession than the last recession we had…
…which was caused by HOUSING. Literally, the thing that caused the recession was the housing market – which is why home prices decreased as much as they did.
The truth is – 2008 was the only recession tied to housing. In most cases, home prices will generally stay flat, or even go up during a recession. This is because one of the supply/demand pieces that drive home prices is the interest rate. As interest rates decrease, home demand increases, and home prices increase.
So – don’t make this simple mistake of waiting for interest rates to decrease. It could, literally, cost you tens of thousands of dollars.
Just be patient – buy a home, lock in your equity, and we’ll help you refinance (for free) when the time is right. When the rates start decreasing to fix the recession – home prices are going to start moving up.