Many people fear the stock market volatility from the pandemic is going to cause another recession.
Whether or not that happens, it’s important to remember one very important thing:
A recession does not equal a housing crisis or “crash” like we saw in 2008.
A recession doesn’t even mean that home prices will depreciate. If you look at the above graph, you’ll see that in the five most recent recessions, only two of them saw values decline.
While we may not know what the future holds, if you are pausing on buying or selling a home because you think a recession will cause another housing crisis…they’re not the same thing, and you could be missing out on today’s record-low mortgage rates.
