Is a nationwide recession on the horizon?

Real Estate

(Albany, NY) Have you been waiting for the right to to sell your home? The U.S. has been in the midst of its longest economic expansion in history—10 years and running—with solid job gains and wage growth. But ongoing trade disputes threaten that, housing analysts warn.

“Economic recession is becoming a genuine possibility,” industry insiders say. “If there is a job-cutting recession, which often occurs with delayed lag after a stock market correction, then low interest rates will not help home sales nor home prices.” This is real estate 101. the market always has high's and low's, and it appears we are currently riding the highest part of the wave. Let us NOT forget the complete "collapse" of the real estate market from 2007-2010. In many cases, homeowner lost upwards of 10+% of their homes equity, putting some in a negative equity (upside down) position and foreclosures reached record highs.
If you have be thinking of downsizing or heading south, NOW is probably a good time to strike while the iron is still HOT. As we head into the fall selling season, real estate sales will typically stay strong until Thanksgiving or the first major snowfall, whichever arrives first. Projections predict the next recession is on the horizon. Knowing that the real estate market is cyclical, and market high's and low's have been both documented and predictable throughout recorded history (since the 1920's) it may be time to limit your risk and/or loss and cash in your chips. Chances are they will be worth less for the next 3-5 years. If the numbers remain consistent with our last recession, based on the average price of a Capital Region home, (around $220,000) the average home owner could potentially stand to lose over $20,000 in equity.
Unfortunately, these dips in the market typically hit our seniors and new homeowners the hardest, so please share this post with those you know who could potentially be impacted by an impending recession. See the comments below from the President of the Nation Association of Realtors. Let's face it, the word recession is never welcome news, but having a heads up when it comes to real estate could save you plenty. The writing is on the wall and real estate is typically one of the very first industry's affected by a recession. Thankfully it is always one of the first to rebound as well. Get a jump on any downward trend today and Find Out What Your Home is Worth by visiting: www.518AreaHomes.com/sell to get your FREE, no obligation comparative market analysis (aka) CMA. Or call Tracy Fraim directly at (518) 339-4395 or by email at: Tracy@518Realty.com