The rising possibility of a recession has sparked concerns about the housing market. Historically, recessions don’t typically cause home prices to drop significantly; rather, they often continue rising. Additionally, mortgage rates usually decline during recessions, improving affordability. Understanding these patterns can alleviate concerns for potential buyers and sellers.
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Why There Won’t Be a Recession That Tanks the Housing Market
Amid recession concerns, economist Jacob Channel asserts the current strength of the economy. A survey by the Wall Street Journal indicates a reduced recession projection, supported by low unemployment rates. Future unemployment rate projections also indicate stability. Overall, experts believe a recession is unlikely in the next year, alleviating fears of a housing market crash.
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